Company A results last year; S = $25,700; CGS = $18,800; D = $3,450; I = $990. Start of last year, NF = $19,280, CA = $5,100, and CL = $3,400, End of prior year NF = $23,650, CA =$5,830 and CL =$3,580. TR =40%. no short term investments or NP

S = Sales CGS = Cost of goods sold D = depreciation expense

I = interest expense NF = net fixed assets CA = Current Assets

CL = current liabilities TR = tax rate NP = notes payable

a. Create Income Statement for Company A. Find net income for last year?

b. Find NOPAT for last year? What caused the difference between net income and NOPAT?

c. What was Return on Invested Capital?

d.   What was the free cash flow for last year? Is this possible? Explain.