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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 (5 thousands) Income statement Selected balance sheet items Sales 2021 1,520 2020 2021 Current assets 440 610 Cost of sales Operating expenses Depreciation Interest expense Earnings before taxes Tax Net income 784 Net fixed assets 156 312 128 Current liabilities 270 350 78 50 480 192 288 Note: Round your answer to the 1000s place. Free cash flow $ 90
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