Income Siniement year ending 2020 Sales Revenues Cost of goods sold Fixed costs Selling, general, and administrative expenses Depreciation EBIT Taxes Net Operating Profits after Taxes (NOPAT) $160 42 18 24 9 40% Tax rate Dividends paid $10 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Partial Balance Sheet 12/31/2019 LIABILITIES Current Liabilities 53 Accruals 7 Accounts payable 6 Total current liabilities Long term debe Total Liabilities 20 ASSETS Current Assets Cash Accounts receivable Inventories Total current assets Partial Balance Sheet 12/31/2019 LIABILITIES Current Liabilities S3 Accruals 7 Accounts payable 6 Total current liabilities Long-term debt Total Liabilities 80 OWNERS' EQUITY 10 Retained earnings Common stock 0 Total owner's equity 20 Gross Fixed assets Accumulated depreciation Net Fixed assets Intangible assets TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY (1) These are cumulative retained earnings but textbook simply calls it retained earning Partial Balance Sheet 12/31/2020 LIABILITIES ASSETS ply Cafenea elmings ASSETS Current Assets Cash Partial Balance Sheet 12/31/2020 LIABILITIES Current Liabilities S2 Accruals 6 Accounts payable 6 Total current liabilities Accounts receivable Inventories Total current assets Long-term debt 15 Gross Fixed assets Accumulated depreciation Net Fixed Assets Intangible assets Total long-term assets 107 Total liabilities OWNERS' EQUITY Retained earnings Common stock Total owner's equity 0 TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY When answering, round to the nearest $0.01 (cent) and DO NOT use dollar signs, USE commas to separate thousands, DO NOT use parenthesis to denote negative numbers, USE the negative sign and place it in front of first digit of your answer when your answer is a negative number. For example, if your result is $43.6 then enter 43.60; if it is -$3 then enter -3.00; if it is $2,456.786 then enter 2,456.79 The Free Cash Flow (FCF) for 2020 is Your