INCOME STATEMENT OF QUICK BURGER CORPORATION, $2022$

$($Figures in $ millions$)$

Net sales $ $27,568$

Costs $17,570$

Depreciation $1,403$

Earnings before interest and taxes $($EBIT$)$ $ $8,595$

Interest expense $518$

Pretax income $8,077$

Federal taxes $($@ $21\%)1,696$

Net income $ $6,381$

BALANCE SHEET OF QUICK BURGER CORPORATION, $2022$

$($Figures in $ millions$)$

Assets $20222021$ Liabilities and Shareholders' Equity $20222021$

Current assets Current liabilities

Cash and marketable securities $ $2,337$ $ $2,337$ Debt due for repayment $$ $ $370$

Receivables $1,3761,336$ Accounts payable $ $3,4043,144$

Inventories $123118$ Total current liabilities $ $3,404$ $ $3,514$

Other current assets $1,090617$

Total current assets $ $4,926$ $ $4,408$

Fixed assets Long$-$term debt $ $13,634$ $ $12,135$

Property, plant, and equipment $ $24,678$ $ $22,836$ Other long$-$term liabilities $3,0582,958$

Intangible assets $($goodwill$)2,8052,654$ Total liabilities $ $20,096$ $ $18,607$

Other long$-$term assets $2,9843,100$ Total shareholders$$ equity $15,29714,391$

Total assets $ $35,393$ $ $32,998$ Total liabilities and shareholders$$ equity $ $35,393$ $ $32,998$

In $2022$ Quick Burger had capital expenditures of $$3,050.$

Calculate Quick Burger$$s free cash flow in $2022.$

Note: Enter your answer in millions.

If Quick Burger was financed entirely by equity, how much more tax would the company have paid? $($Assume a tax rate of $21\%.)$

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

What would the company$$s free cash flow have been if it was all$-$equity financed?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole number.

a$.$ Free cash flow million

b$.$ Additional tax million

c$.$ Free cash flow million