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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 liabilities

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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 liabilities and that no fixed assets were sold or disposed of during 2021. Monarch Textiles, Incorporated ($ thousands) Income statement Selected balance sheet items 2021 2020 2021 Sales 1, 670 Current assets 490 685 Cost of sales 814 Net fixed assets 176 352 Operating expenses 138 Current liabilities 295 375 Depreciation 88 Interest expense Earnings before taxes 580 Tax 232 Net income 348 Note: Round your answer to the 1000s place. Free cash flow

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