Question
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
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 1,280 Current assets 360 490 Cost of sales 736 Net fixed assets 124 248 Operating expenses 112 Current liabilities 230 310 Depreciation 62 Interest expense 50 Earnings before taxes 320 Tax 128 Net income 192 Note:
Round your answer to the 1000s place.
Free cash flow=
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started