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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
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 | 1,430 | Current assets | 410 | 565 |
Cost of sales | 766 | Net fixed assets | 144 | 288 |
Operating expenses | 122 | Current liabilities | 255 | 335 |
Depreciation | 72 | |||
Interest expense | 50 | |||
Earnings before taxes | 420 | |||
Tax | 168 | |||
Net income | 252 |
Note: Round your answer to the 1000s place.
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