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. (Enter your answer in 1000s.) Monarch Textiles, Inc. ($ thousands) Income statement Selected balance sheet items 2017 2016 Sales 1,220 Current assets 340 Cost of sales 740 Net fixed assets 116 Operating expenses 120 Current liabilities 220 Depreciation 58 Interest expense 50 Earnings before taxes 252.00 Tax 100.80 Net income 151.20 2017 460 232 300