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Balance Sheets Assets 2 0 1 9 2 0 1 8 Cash and equivalents $ 1 0 0 $ 8 5 Accounts receivable 2 7

Balance Sheets
Assets 20192018
Cash and equivalents $100 $85
Accounts receivable 275300
Inventories 375250
Total current assets $750 $635
Net plant and equipment 2,3001,490
Total assets $3,050 $2,125
Liabilities and Equity
Accounts payable $150 $85
Accruals 7550
Notes payable 15075
Total current liabilities $375 $210
Long-term debt 450290
Total liabilities 825500
Common stock 1,2251,225
Retained earnings 1,000400
Common equity 2,2251,625
Total liabilities and equity $3,050 $2,125
Income Statements
20192018
Sales $2,365 $1,520
Operating costs excluding depreciation and amortization 1,2501,000
EBITDA $1,115 $520
Depreciation and amortization 10075
EBIT $1,015 $445
Interest 6346
EBT $952 $399
Taxes (25%)238100
Net income $714 $299
Dividends paid $54 $48
Addition to retained earnings $600 $251.25
Shares outstanding 100100
Price $25.00 $22.50
WACC 10.00%
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 2019 free cash flow (FCF)? Use a minus sign to indicate a negative FCF. Round your answer to the nearest cent.
$
95

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