Finding operating and free cash flows Consider the balance sheets and selected data from the income statement of Keith Corporation that follow a. Calculate the firm's net operating profil aller laxes (NOPAT) for the year ended December 31, 2015 b. Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2015. c. Calculate the firm's free cash flow (FCF) for the year ended December 31, 2015. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). Data table a. The net operating profit after taxes is $7. (Round to the nearest dollar.) (Click on the icon located on the top-right corner of the data tables below in order to copy its contents into a spreadsheet.) Keith Corporation Balance Sheets December 31 Assets 2015 2014 Cash $1,480 S960 Marketable securities 1.770 1.170 Accounts receivable 2,030 1,790 Inventories 2.920 2,820 Total current assets $8,200 $6,740 Gross fixed assets $29,480 S28,090 Less: Accumulated depreciation 14.730 13.140 Net fixed assets $14,750 S14,950 Total assols $22.950 521,690 Liabilities and Stockholders' Equity Accounts payable $1,650 $1,530 Notes payable 2,850 2.250 Accruals 210 300 Total current liabilities $4,710 $4,080 Long term debt $4,930 $4,820 Total liabilities $9,640 $8.900 Common stock $9,960 $9,960 Retained earnings 3,350 2,830 Total stockholders' equity $13,310 $12,790 Total liabilities and stockholders' equity $22.950 S21,690 Income Statement Data (2015) Depreciation expense Earnings before interest and taxes (EBIT Interest expense Net profits after taxes Tax rate $1,590 2.740 365 1,425 40%