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 profit after taxes (NOPAT) for the year ended December 31, 2019 b. Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2019. c. Calculate the firm's free cash flow (FCF) for the year ended December 31, 2019. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). a. The net operating profit after taxes is 5 (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 2019 2018 Cash $1,470 $1,010 Marketable securities 1,830 1,200 Accounts receivable 2,050 1,740 Inventories 2.880 2,810 Total current assets $8,230 $6,760 Gross fixed assets $29,520 $28,120 Less: Accumulated depreciation 14,720 13,100 Net fixed assets $14,800 $15,020 Total assets $23,030 $21,780 Liabilities and Stockholders' Equity Accounts payable $1,610 $1,510 Notes payable 2,790 2,230 Accruals 210 310 Total current liabilities $4,610 $4,050 Long-term debt $5,060 $4,930 Total liabilities $9,670 $8,980 Common stock $10,010 $10,010 Retained earnings 3,350 2,790 Total stockholders' equity $13,360 $12,800 Total liabilities and stockholders' equity $23,030 $21,780 Income Statement Data (2019) Depreciation expense Earnings before interest and taxes (EBIT) Interest expense Net profits after taxes Tax rate $1,620 2,650 371 1,800 21%