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Income Statement year ending 2 0 2 0 Sales Revenues $ 1 0 0 Cost of goods sold 3 5 Fixed costs Selling, general, and

Income Statement year ending 2020
Sales Revenues $100
Cost of goods sold 35
Fixed costs
Selling, general, and administrative expenses
Depreciation 8
EBIT $64
Taxes
Net Operating Profits after Taxes (NOPAT)
*** Tax rate 30%
Dividends paid $10
Partial Balance Sheet 12/31/2019
ASSETS LIABILITIES
Current Assets Current Liabilities
Cash $2 Accruals $8
Accounts receivable Accounts payable
Inventories 4 Total current liabilities $14
Total current assets $11 Long-term debt
Total Liabilities
Gross Fixed assets 74 OWNERS' EQUITY
Accumulated depreciation 10 Retained earnings (1)
Net Fixed assets Common stock
Intangible assets 0 Total owner's equity
TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY
(1) These are cumulative retained earnings but textbook simply calls it retained earnings
Partial Balance Sheet 12/31/2020
ASSETS LIABILITIES
Current Assets Current Liabilities
Cash $3 Accruals $7
Accounts receivable Accounts payable
Inventories 7 Total current liabilities $11
Total current assets $13 Long-term debt
15
Gross Fixed assets 93 Total liabilities
Accumulated depreciation OWNERS' EQUITY
Net Fixed Assets Retained earnings
Intangible assets 0 Common stock
Total long-term assets Total owner's equity
TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY
Income Statement year ending 2020
Sales Revenues $100
Cost of goods sold 35
Fixed costs
Selling, general, and adm. expenses 27
Depreciation 8
EBIT 64
Taxes
Net Operating Profits after Taxes (NOPAT)
*** Tax rate 30%
Dividens paid $10
Partial Balance Sheet 12/31/2019
ASSETS LIABILITIES
Current Assets Current Liabilities
Cash $2 Accruals $8
Accounts receivable Accounts payable
Inventories 4 Total current liabilities $14
Total current assets $11 Long-term debt
Total Liabilities
Gross Fixed assets 74 OWNERS' EQUITY
Accumulated depreciation 10 Retained earnings (1)
Net Fixed assets Common stock
Intangible assets 0 Total owner's equity
TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY
(1) These are cumulative retained earnings but textbook simply calls it retained earnings
Partial Balance Sheet 12/31/2020
ASSETS LIABILITIES
Current Assets Current Liabilities
Cash $3 Accruals $7
Accounts receivable Accounts payable
Inventories 7 Total current liabilities $11
Total current assets $13 Long-term debt 15
Gross Fixed assets 93 Total liabilities
Accumulated depreciation OWNERS' EQUITY
Net Fixed Assets Retained earnings
Intangible assets 0 Common stock
Total long-term assets Total owner's equity
TOTAL ASSETS TOTAL LIABILITIES & OWNER'S EQUITY 1. What is The Free Cash Flow (FCF) for 2020?

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