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Abbreviated financial statements are given for Fletcher Corporation in the following table: 2 0 1 9 2 0 2 0 Revenues $ 6 0 0

Abbreviated financial statements are given for Fletcher Corporation in the following table:
20192020
Revenues $600.00 $690.00
Operating expenses 520600
Depreciation 1618
Earnings before interest and taxes 6472
Less Interest Expense 55
Less: Taxes 23.626.8
Equals: Net income 35.440.2
Addendum:
Yearend working capital 150200
Principal repayment 2525
Capital expenditures 2010
Yearend working capital in 2018 was $160 million and the firms marginal tax rate is 40% in both 2019 and 2020. Estimate the following for 2019 and 2020:
a. Free cash flow to equity.
b. Free cash flow to the firm.
Please provide detailed explanation

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