Balance Sheets: 2013 2012 $100 $85 300 275 375 Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets $ 750 2,300 $3,050 250 $635 1,490 $2,125 $85 $150 75 50 150 75 $210 Accounts payable Accruals Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity $375 450 290 1,225 1,000 $3,050 1,225 400 $2,125 Income Statements: 2013 2012 $2,100 1,250 $850 $1,200 1,000 $200 75 100 Sales Operating costs excluding depreciation EBITDA Depreciation and amortization EBIT Interest EBT Taxes (40%) Net income $750 $125 62 45 $688 275 $413 $80 32 $48 Dividends paid Addition to retained earnings $53 $600 $48 $0 Shares outstanding Price WACC 100 $25.00 10.00% 100 $22.50 The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. Using the financial statements given above, what is Rosnan's 2013 free cash flow (FCF)? Use a minus sign to indicate a negative FCF. 95