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DMH Enterprises 2018 and 2019 balance sheets (in thousands of dollars ) are shown below: 2019 2018 Cash $102,850 $89,725 Accounts Receivable 103,365 85,527 Inventories

  1. DMH Enterprises 2018 and 2019 balance sheets (in thousands of dollars) are shown below:

2019

2018

Cash

$102,850

$89,725

Accounts Receivable

103,365

85,527

Inventories

38,444

34,982

Total Current Assets

$244,659

$210,234

Net Fixed Assets

67,165

42,436

Total Assets

311,824

$252,670

Accounts Payable

$30,761

$23,109

Accruals

30,477

22,656

Notes Payable

16,717

14,217

Total current liabilities

$77,955

$59,982

Long-term debt

76,264

63,914

Total Liabilities

$154,219

$123,896

Common Stock

100,000

90,000

Retained Earnings

57,605

38,744

Total Common Equity

$157,605

$128,774

Total Liabilities and Equity

$311,824

$252,670

Sales for 2019 were $455,150,000, and EBITDA was 35% of sales. Furthermore, depreciation and amortization were 11% of net fixed assets, interest was $8,575,000, the corporate tax rate was 40% and DMH pays 40% of its net income as dividends.

  1. Calculate free cash flow for 2019.

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