2015 2014 Assets Current Assets Cash Accounts Receivable Inventory Total Current Assets 140 160 300 110 120 230 Fixed Assets Property, Plant, and Equipment Less Accumulated Depreciation Net Fixed Assets Balance Sheet($ in Millions) 2015 2014 Liabilities and Owners' Equity Current abilities 400 300 Accounts Payable 240 200 Notes Payable 260 200 Total Current Liabilities 900 700 Long Term Liabilities Long Term Debt Total Long Term Liabilities 790 600 Owners' Equity 100 50 Common Stock ($1 Par) 690 550 Capital Surplus Retained Earnings Total Owners' Equity 1,590 1,250 Total Liabilities and Owners' Equity 847 847 570 570 180 90 173 443 1,590 160 90 200 450 1,250 Total Assets Income Statement ($in Millions) 2015 800 600 Sales Cost of Goods Sold Administrative Expenses Depreciation Earnings Before Interest and Taxes Interest Expense Taxable income Taxes Net Income Dividends Addition to Retained Earnings 100 50 50 90 -40 - 13 -27 0 -27 8. Based on the 2 tables above, find Free Cash Flow to Equity Holders for 2015: a. -34 b. 80 c. 140 d. 460 e. 520