Calculate Free Cash Flow to Firm (FCFF) and Free Cash Flow to Equity (FCFE) using the data listed in below in Exhibits 1: " HRM Corps Financial Documents ( Balance sheet & Income Statement)"

Exhibits 1 : HRM Corps Financial Documents ( Balance sheet & Income Statement)

Balence Sheet as of 5/1/20XX (all numbers in $$Millions)

Year ending 5/1/	2031	2032
Cash	200	240
Accounts Receivables	280	320
Inventory	420	380
Current Assets	900	940
Gross Fixed Assets	4000	4660
Accumulated Depreciation	2800	3200
Net Fixed Assets	1200	1460
Total Assets	2100	2200
Accounts Payables	200	280
Notes Payables	400	420
Current Liabilities	600	700
Long-term Debt	420	600
Common Stock	480	400
Retained Earnings	600	700

Income Statement as of 5/1/20XX (all numbers in $$Millions)

For Year Ending 5/1/	2031	2032
Sales	3070	3560
-Cost of Goods Sold	1800	2000
Gross Profit	1270	1560
Depreciation Expense	480	400
Selling, General and Administrative Expenses	500	600
Earnings Before Interest and Taxes (Operating Profit)	290	560
Interest Expense	40	60
Earnings before Tax	250	500
Tax (20%)	50	100
Net Income	200	400
Dividends paid	150	300