PART TWO Financial Tools Keith Corporation Balance Sheets (continued) December 31 2018 Liabilities and stockholders' equity 2019 $ 1,500 s 1,600 Accounts payable Notes payable 2,200 2,800 300 200 Accruals S 4,000 $ 4,600 Total current liabilities 5,000 5,000 Long-term debt $9,000 $ 9,600 $10,000 Total liabilities $10,000 Common stock 2,800 3,400 Retained earnings $12,800 $13,400 Total stockholders' equity $21,800 $23,000 Total liabilities and stockholders' equity Keith Corporation Income Statement Data (2019) $1,600 Depreciation expense 2,700 Earnings before interest and taxes (EBIT) 367 Interest expense Net profits after taxes 1,400 21% Tax rate a. Calculate the firm's net operating profit after taxes (NOPAT) for the year ended December 31, 2019, using Equation 4.1. b. Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2019, using Equation 4.3 c. Calculate the firm's free cash flow (FCF) for the year ended December 31, 2019, using Equation 4.4 d. Interpret, compare, and contrast your cash flow estimates in parts b and c