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Consider the balance sheets and selected data from the income statement of Keith Corporation that can be found below, then prepare answers for the following

Consider the balance sheets and selected data from the income statement of Keith Corporation that can be found below, then prepare answers for the following questions: a. Calculate the firm's accounting cash flow from operations for the year ended December 31, 2009, b. Calculate the firm's net operating profit after taxes (NOPAT) for the year ended December 31, 2009,. c. Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2009, using Equation 3.3. d. Calculate the firm's free cash flow (FCF) for the year ended December 31, 2009, e. Interpret, compare, and contrast your cash flow estimates in parts a, c, and d. Keith Corporation Balance sheets December 31 Assets 2009 2008 Cash 1500 1000 Marketable securities 1800 1200 Accounts receivable 2000 1800 Inventories 2900 2800 Total current assets $8200 $6800 Gross fixed assets $29500 $28100 Less Accumulated Depreciation $14,700 $13,100 Net fixed assets $14,800 $15,000 Total assets $23,000 $21,800 Liabilities and Stockholder's Equity Accounts payable $1,600 $1,500 Notes payable $2,800 $2,200 Accruals 200 300 Total current liabilities $4,600 4,000 Long-term debt $5,000 $5,000 Common stock $10,000 $10,000 Retained earnings $3,400 $2,800 Total stockholder's equity $13,400 $12,800 Total liabilities and stockholder's equity $23,000 $21,800 Income Statement Data (2009) Depreciation expense $1600 Earnings before interest and taxes $2,700 Interest expense $367 Net profits after taxes $1,400 Tax rate 40%expense $1600 Earnings before interest and taxes $2,700 Interest expense $367 Net profits after taxes $1,400 Tax rate 40%

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