A firm reported net income of $376 million for 2012, consisting of $500 million in NOPAT (net operating profit after tax) less $124 million of net financial expense (after tax). It also reported the following comparative balance sheet (in millions of dollars): 2012 2011 2012 2011 Short-term investments (at market) 610 550 Accounts payable 1,200 1,040 Accounts receivable 940 790 Accrued liabilities 390 450 Inventory 910 840 Long-term debt 1,840 1,970 Property and plant 2,840 2,710 Common Equity 1,870 1,430 5,300 4,890 5,300 4,890 A. Reformulate the balance sheet and find NOA, NFO and SE.

A. Reformulate the balance sheet and find NOA, NFO and SE.

A firm reported net income of $376 million for 2012 , consisting of $500 million in NOPAT (net operating profit after tax) less $124 million of net financial expense (after tax). It also reported the following comparative balance sheet (in millions of dollars): A. Reformulate the balance sheet and find NOA,NFO and SE. (10 Points) B. Calculate free cash flow using the following equation: (2 Points) FCF=NOPATNOA C. Calculate net dividend using the following equation: (2 Points) Net dividend = Net income SE D. Calculate free cash flow using the following equation: (2 Points) FCF=NFENFO+d