FREE CASH FLOW Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $2,080.0 $1,600.0 Operating costs excluding depreciation and amortization 1,560.0 1,360.0 EBITDA $520.0 $240.0 Depreciation and amortization 51.0 46.0 Earnings before interest and taxes (EBIT) $469.0 $194.0 Interest 46.0 35.0 Earnings before taxes (EBT) $423.0 $159.0 Taxes (40%) 169.2 63.6 Net income $253.8 $95.4 Common dividends $228.0 $76.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2016 2015 Assets Cash and equivalents $29.0 $24.0 Accounts receivable 250.0 208.0 Inventories 460.0 368.0 Total current assets $739.0 $600.0 Net plant and equipment 510.0 464.0 Total assets $1,249.0 $1,064.0 Liabilities and Equity Accounts payable $187.0 $144.0 Accruals 166.0 128.0 Notes payable 42.0 32.0 Total current liabilities $395.0 $304.0 Long-term bonds 416.0 320.0 Total liabilities $811.0 $624.0 Common stock 383.2 411.0 Retained earnings 54.8 29.0 Common equity $438.0 $440.0 Total liabilities and equity $1,249.0 $1,064.0 Write out your answers completely. For example, 25 million should be entered as 25,000,000. B) What was the 2016 free cash flow?