Continuation of the question

($000) ASSETS 2016 $ 200 $ 150 550 2017 Cash Accounts receivable 450 Inventory CURRENT ASSETSS 1,200$1,200 Plant & equipment$2,200 $2,600 425 625 Less Accumulated(1,000) (1,200 Net Plant & equipment Depreciation $1,200 $1,400 Total Assets $2,400 $2,600 LIABILITIES &Equity Accounts payable $200 $150 Notes Payable current (9%) CURRENT LIABILITIES Bonds Owner's Equity 150 $ 200 $300 $ 600 $600 Common stock $900$900 Retained earnings 700 800 Total Owner's Equity $ 1,600 $1,700 Total liabilities & Equity $2,400$2,600 PAP Inc. Income Statements 000's) Sales Gross Profit general, ADM 2016 2017 $1,200 $1,450 700 850 $500 $600 40 Selling, 30 Expenses Depreciation 220200 Operating 250 $360 Income Interest expense 50 64 EBT $200 296 Taxes (40 % 118 $120 $178 Net income (10 pts) Using the financial statements above, Calculate PAP Inc.'s free cash flows from operation for year ending in 2017? (10 pts) What are the uses of PAP's FCFs