4. Given the following pro forma statements, find the free cash flow to the firm) for year T+1. Year T+1 Year T Year T+I Sales 3000 Cash 190 200 Operating costs and expenses 2200 Accounts receivable 560 600 EBITDA 800 Inventory 410 440 Depreciation 300 Total current assets 1160 1240 EBIT 500 Gross fixed assets 2200 2600 Interest expense 100 Accumulated depreciation 900 1200 Income before tax Net fixed assets 1300 1400 Taxes (40%) Total Assets 2460 2640 Net income 240 Accounts payable 285 300 Dividends Notes payable 200 250 Change in retained earnings 80 Accrued taxes and expenses 150 Total current liabilities 700 Long-term debt 890 Common stock 100 Additional paid-in capital 200 Retained earnings 750 Total shareholders, equity 970 1050 Total liabilities and 2460 2640 shareholders' equity