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Calculate free cash flow for 2021 for Monarch Textiles, Incorporated, based on the financial information that follows. Assume that all current liabilities are non-interest-bearing
Calculate free cash flow for 2021 for Monarch Textiles, Incorporated, 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 2021. Monarch Textiles, Incorporated ($ thousands) Income statement! Selected balance sheet items Sales 2021 1,160 2020 2021 Current assets 320 430 Cost of sales 712 Net fixed assets 108 216 Operating expenses 104 Current liabilities 210 290 Depreciation 54 Interest expense 50 Earnings before taxes 240 Tax 96 Net income 144 Note: Round your answer to the 1000s place. Free cash flow
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