Calculate free cash flow for 2017 for Monarch Textiles, Inc., based on the financial information that follows. Assume that all current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2017. (Round your answer to 1 decimal places.) Monarch Textiles, Inc. ( thousands) Income statement Selected balance sheet items 2017 Sales 2012 1,580 860 Current assets Cost of sales Net fixed assets 150 Current liabilities Operating expenses Depreciation 82 50 Interest expense Earnings before taxes 408.00 Tax 163.20 Net Income 244.00 Answer is complete but not entirely correct. Free cash flow 5 88.8 X 2016 460 164 280 640 328 360