Consider the following balance sheets and selected data from the income statement of Keith Corporation.a. Calculate the firm’s net operating profit after taxes (NOPAT) for the year ended December 31, 2019, using Equation 4.1.

b. Calculate the firm’s operating cash flow (OCF) for the year ended December 31, 2019, using Equation 4.3.

c. Calculate the firm’s free cash flow (FCF) for the year ended December 31, 2019, using Equation 4.4.

d. Interpret, compare, and contrast your cash flow estimates in parts b and c.

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Keith Corporation Balance Sheets December 31 Assets 2019 2018 $ 1,500 $ 1,000 Cash Marketable securities 1,800 1,200 Accounts receivable 2,000 1,800 Inventories 2,900 2,800 $ 8,200 $ 6,800 Total current assets Gross fixed assets $29,500 $28,100 Less: Accumulated depreciation 14,700 13,100 $15,000 $21,800 Net fixed assets $14,800 Total assets $23,000 Keith Corporation Balance Sheets December 31 Liabilities and stockholders' equity 2019 2018 $ 1,600 2,800 $ 1,500 Accounts payable Notes payable 2,200 Accruals 200 300 Total current liabilities $ 4,600 $ 4,000 Long-term debt 5,000 5,000 $ 9,000 $10,000 Total liabilities $ 9,600 Common stock $10,000 Retained earnings 3,400 2,800 Total stockholders' equity $13,400 $23,000 $12,800 Total liabilities and stockholders’ equity $21,800