Question
Abbreviated financial statements for Billabong Corporation for 2019 are given below: 2019 ($ million) Revenues 690.0 Operating expenses 600.0 Depreciation 18.0 Earnings before interest and
Abbreviated financial statements for Billabong Corporation for 2019 are given below:
|
| 2019 ($ million) |
| Revenues | 690.0 |
| Operating expenses | 600.0 |
| Depreciation | 18.0 |
| Earnings before interest and taxes | 72.0 |
| Less Interest Expense | 5.0 |
| Less: Taxes | 20.1 |
| Equals: Net income | 46.9 |
| Addendum | |
| Yearend working capital | 200 |
| Principal repayment | 25.0 |
| Capital expenditures | 10 |
Yearend working capital in 2018 was $225 million and the firms marginal tax rate is 30% in 2019. What is the Free Cash Flow to the Equity in 2019 in $ million? (3 marks)
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Advanced Stocks Analysis A Fundamentalist Approach
Authors: Luciano Storelli ,Storelli And Pepe Stocks Investments
1st Edition
979-8395523006
