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Based on the financial statements given below, calculate: 1) FCFF starting with the net income figure 2) FCFE starting with the net income figure 3)
Based on the financial statements given below, calculate: 1) FCFF starting with the net income figure 2) FCFE starting with the net income figure 3) FCFE starting with cash flows from operations 4) FCFE starting with EBITDA (and calculating first the FCFF) NB! Show all the calculations!
\begin{tabular}{|c|c|c|} \hline \multicolumn{2}{l|}{ LIABILITIES AND SHAREHOLDERS' EQUITY } \\ \hline Current Liabilities & 590 & 634 \\ \hline Accounts payable & 600 & 620 \\ \hline Notes payable & 152 & 198 \\ \hline Accrued taxes and expenses & 1342 & 1452 \\ \hline Total Current Liabilities & 2020 & 2100 \\ \hline Long-term debt & 100 & 100 \\ \hline Common stock & 600 & 600 \\ \hline Additional paid-in capital & 2140 & 2530 \\ \hline Retained earnings & 2840 & 3230 \\ \hline Total Shareholders' Equity & 6202 & 6782 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline INCOME STATEMENT & 2019 \\ \hline Total Revenues & 4430 \\ \hline Operating costs and expenses & 2860 \\ \hline EBITDA & 1570 \\ \hline Depreciation & 360 \\ \hline Operating Income (EBIT) & 1210 \\ \hline Interest expense & 260 \\ \hline Income before tax & 950 \\ \hline Taxes (at 40\%) & 380 \\ \hline Net income & 570 \\ \hline Dividends & 180 \\ \hline Change in retained earnings & 390 \\ \hline \end{tabular}Step by Step Solution
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