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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
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 | 2016 | 2017 | ||||||
Sales | 1,190 | Current assets | 330 | 445 | ||||
Cost of sales | 730 | Net fixed assets | 112 | 224 | ||||
Operating expenses | 115 | Current liabilities | 215 | 295 | ||||
Depreciation | 56 | |||||||
Interest expense | 50 | |||||||
Earnings before taxes | 239.00 | |||||||
Tax | 95.60 | |||||||
Net income | 143.40 | |||||||
Free Cash Flow =
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