Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Intro Below is the balance sheet for Rumble Clock Inc. for December 31 of 2019 and 2020. 2019 2020 2019 2020 Cash Accounts receivable Inventory
Intro Below is the balance sheet for Rumble Clock Inc. for December 31 of 2019 and 2020. 2019 2020 2019 2020 Cash Accounts receivable Inventory Current assets Net fixed assets Total assets 950 1,000 2,850 3,000 2,850 3,000 6,650 7,000 12,350 13,000 19,000 20,000 Accounts payable 2,850 3,000 Current liabilities 2,850 3,000 Long-term debt 5,700 6,000 Total liabilities 8,550 9,000 Equity 10,450 11,000 Total liab. & equity 19,000 20,000 The income statement for 2020 is also given: Amount Sales 48,000 26,400 Cost 7,200 Depreciation EBIT Interest Taxes (25%) 14,400 4,800 2,400 7,200 Net income Part 1 Attempt 1/1 for 10 pts. What was the free cash flow in 2020? 0+ decimals
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started