Hi- Can you provide a step by step calculation for the example? Using the data to calculate the free cash flow of home max in year 2016 and provide calculations? Thanks!

3. The following is the income statement for Home Max Inc. for fiscal year ended January 31, 2016, and the balance sheets for year 2015 and year 2016. Assuming the corporate tax rate is 37%, calculate the free cash flow of Home Max Inc. in year 2016