382 432 $ Consider the following balance sheet and income statement for Mmm Good Foods Inc. (the company that operates Tasty Fried Chicken and Pizza Party), in condensed form, including some Information from the cash flow statement: (amounts are in millions) Mmm Good Foods Inc. Balance Sheet 2016 Cash and short-term Investments $ 716 Accounts receivable Inventory 48 Other current assets Long-lived assets 4,068 Total assets 5,646 Current liabilities $ 1,429 Total liabilities 11,158 Noncontrolling interest Shareholders' equity (-5,512) Total liabilities and equity $ 5,646 Income statement Sales $ 6,486 Cost of sales 3,558 Gross margin $ 2,928 Earnings before interest and taxes $ 1,637 Interest 319 Taxes Income from discontinued operations 613 Net income $ 1,595 Share price 75 Earnings per share 5.31 Number of outstanding shares (millions) 356.2 Cash Flows Cash flow from operations $ 1,216 Capital expenditures 416 Dividends 754 336 $ Required: Determine the valuation of the company at the end of 2016 using each of the following three methods. Assume earnings and cash flows for the coming 10 years are equal to the earnings and cash flows in 2016, the appropriate free cash flow multiple is 23.4. (Enter your answers in millions rounded to nearest whole number.) a. Market capitalization. b. Enterprise value. c. Free cash flow multiple. million a Market capitalization b. Enterprise value Free cash flow multiple million million