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From the following information on the income statement and the balance sheet, what is free cash flow to the firm (FCFF) in 2019? Assume that

From the following information on the income statement and the balance sheet, what is free cash flow to the firm (FCFF) in 2019?

Assume that the tax rate is 0.3.

Income Statement

Items

2018

2019

Revenue

2,542

3,004

Cost of goods sold

1,017

1,235

SG&A expense

308

353

Depreciation

409

505

Interest expense

108

155

Balance Sheet

Items 2018 2019
Cash 151 308
Accounts receivable 456 903
Inventory 905 1,207
PP&E 9,087 12,843
Accumulated Dep 4,241 5,739
Accounts payable 605 656
Short-term debt 304 505
Long-term debt 3,044 3,448
Common stock 1,800 1,800
Retained earnings x x

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