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Below are the 2014 and 2013 year-end balance sheets for Glad Corporation and the 2014 income statement: Assets: Cash Accounts receivable Inventories Total current assets

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Below are the 2014 and 2013 year-end balance sheets for Glad Corporation and the 2014 income statement: Assets: Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets 2014 24,000 30,000 28, 125 $82,125 50,000 $1321125 2013 $ 23,000 25,000 21,000 $69,000 47,000 $116,000 Liabilities and equity: Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity $10,800 7,600 6, 700 $25, 100 25,000 $50, 100 50,000 32,025 $82,025 $132.125 $9,000 6,000 5,150 $20, 150 25,000 $45, 150 50,000 20,850 $70, 850 $16.000 Income Statement for Year Ending December 31, 2014 Sales $214,000 Operating costs excl depr 165,000 Depreciation 10.000 EBIT $ 39,000 Interest expense 1.750 EBT $ 37,250 Taxes (40%) 14.900 Net income $ 22.350 Dividends paid $11,175 Which of the following statements is CORRECT? The firm's free cash flow totaled $54,000 for 2014. Glad's net operating working capital amounted to $63,725 for 2013. The firm's total invested capital amounted to $113,725 for 2014 Glad's net operating working capital amounted to $15,675 for 2014

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