1. Inc.s financial statements are as follows:

TURCO Inc. Balance sheet For the Period ended 2019 and 2020 ($000)
ASSETS
	2019	2020
Cash	$ 200	$ 150
Accounts receivable	450	425
Inventory	550	625
CURRENT ASSETS	$ 1,200	$ 1,200
Plant & equipment	$2,200	$2,600
Less Accumulated Depreciation	(1,000)	(1,200)
Net Plant & equipment	$1,200	$1,400
Total Assets	$2,400	$2,600
LIABILITIES & Owners Equity
Accounts payable	$ 200	$150
Notes Payable current (15%)	0	150
CURRENT LIABILITIES	$ 200	$300
Bonds	$ 600	$600
Owners Equity
Common stock	$900	$900
Retained earnings	700	800
Total Owners Equity	$ 1,600	$1,700
Total liabilities & Equity	$2,400	$2,600

TURCO Inc. Income Statements (000s)
	2019	2020
Sales	$1,200	$1,450
COGS	700	850
Gross Profit	$500	$600
Selling, general, ADM Expenses	30	40
Depreciation	220	200
Operating Income	$ 250	$ 360
Interest expense	50	64
EBT	$200	$ 296
Taxes (40 %)	80	118
Net income	$120	$178

(10 pts) Using the financial statements above, Calculate TURCO Inc.s free cash flows from operation for year ending in 2020? (5 pts) What are the uses of TURCOs FCFs?