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Based on the picture above calculate: 1- Net Operating Working capital for 2020? 2- Net Operating working capital for 2021? 3- Delta NOWC? 4- Coke's

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Based on the picture above calculate:
1- Net Operating Working capital for 2020?
2- Net Operating working capital for 2021?
3- Delta NOWC?
4- Coke's 2021 FCF?
image text in transcribed
\begin{tabular}{|lr|} \hline Coca-Cola Company 12/31 & 2021 \\ \hline Net sales (in millions) & 38,655 \\ \hline Operating Cost (exc. Depr.) & 27,324 \\ \hline Depreciation expense & 10 \\ \hline Operating Income & 11,321 \\ \hline Interest expense & 1321 \\ \hline Other income & 2425 \\ \hline Earnings before taxes & 12,425 \\ \hline Income taxes & 2,621 \\ \hline Net income & 9,804 \\ \hline \end{tabular} \begin{tabular}{|lr|r|} \hline Assets: (in Millions) & 2021 & 2020 \\ \hline Cash and marketable securities & $12,625 & $10,914 \\ \hline Accounts receivable & $3,512 & $3,144 \\ \hline Inventories & 3,414 & 3,266 \\ \hline Prepaid expenses & 2,994 & 1,916 \\ \hline Total current assets & $22,545 & $19,240 \\ \hline Net fixed assets & $11,338 & $12,325 \\ \hline Other assets & $60,471 & $55,731 \\ \hline Total assets & $94,354 & $87,296 \\ \hline & & \\ \hline Liabilities: & & \\ \hline Accounts payable & $4,602 & $3,517 \\ \hline Accruals & $8,899 & $6,491 \\ \hline Notes payable & 3,307 & 2,183 \\ \hline Other Current Liabilities & 3,142 & 2,410 \\ \hline Total current liabilities & $19,950 & $14,601 \\ \hline Long-term debt & 38,116 & 40,125 \\ \hline Other liabilities & 13,289 & 13,271 \\ \hline Owner's equity & 22,999 & 19,299 \\ \hline Total liabilities and owner's equity & $94,354 & $87,296 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Other Data & 2021 \\ \hline Ordinary Shares Outstanding (M) & 4,325 \\ \hline Market Price & $58.75 \\ \hline Tax Rate & 21.10% \\ \hline WACC & 4.5% \\ \hline \end{tabular}

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