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Consider the following balance sheet and income statement for Mmm Good Foods Inc. (the company that operates Tasty Fried Chicken and Pizza Party), in condensed

Consider the following balance sheet and income statement for Mmm Good Foods Inc. (the company that operates Tasty Fried Chicken and Pizza Party), in condensed form, including some information from the cash flow statement: (amounts are in millions)

Mmm Good Foods Inc.
Balance Sheet 2016
Cash and short-term Investments $ 708
Accounts receivable 374
Inventory 40
Other current assets 392
Long-lived assets 4,020
Total assets $ 5,534
Current liabilities $ 1,389
Total liabilities 11,142
Noncontrolling interest
Shareholders equity (-5,608 )
Total liabilities and equity $ 5,534
Income Statement
Sales $ 6,406
Cost of sales 3,518
Gross margin $ 2,888
Earnings before interest and taxes $ 1,629
Interest 311
Taxes 328
Income from discontinued operations 621
Net income $ 1,611
Share price $ 67
Earnings per share 4.51
Number of outstanding shares (millions) 355.4
Cash Flows
Cash flow from operations $ 1,208
Capital expenditures 426
Dividends 764

Determine the valuation of the company at the end of 2016 using each of the following three methods. Assume earnings and cash flows for the coming 10 years are equal to the earnings and cash flows in 2016; the appropriate free cash flow multiple is 23.4. (Enter your answers in millions rounded to nearest whole number.)

a. Market capitalization _____

b. Enterprise value ______

c. Free cash flow multiple ________

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