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Financial statements for Computron Industries, a manufacturer of electronic calculators are given below: Income Statement for the Year Ended Dec 31, 2019 2019 Sales $3,2001
Financial statements for Computron Industries, a manufacturer of electronic calculators are given below: Income Statement for the Year Ended Dec 31, 2019 2019 Sales $3,2001 Operating costs excluding depreciation 1,2001 Depreciation 300 EBIT (operating income) 1,7001 Interest expense 340 EBT (Earnings before taxes) 1,360 Taxes (40%) 544 Net income $ 8161 Partial Balance Sheets as at December 31 2019 2018 Common stock $650 $5401 Retained earnings 520 432 Total equity 1.170 9721 How much of the free cash flow did Computron use for dividends in 2019? $728 $88 $816 $340
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