Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 2-33 Free Cash Flow (LG2-5) The 2021 income statement for Duffy's Pest Control shows that depreciation expense was $199 million, EBIT was $508 million,

image text in transcribed
Problem 2-33 Free Cash Flow (LG2-5) The 2021 income statement for Duffy's Pest Control shows that depreciation expense was $199 million, EBIT was $508 million, and the tax rate was 30 percent. At the beginning of the year, the balance of gross fixed assets was $1,578 million and net operating working capital was $419 million. At the end of the year, gross fixed assets was $1,827 million. Duffy's free cash flow for the year was $421 million Calculate the end-of-year balance for net operating working capital (Enter your answer in millions of dollars rounded to 1 decimal place.) Net operating working capital million

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Capital Markets Institutions Instruments And Risk Management

Authors: Frank J. Fabozzi

5th Edition

0262029480, 9780262029483

More Books

Students also viewed these Finance questions

Question

give a definition of quantitative job demands;

Answered: 1 week ago

Question

=+Identify the key components of a strategic plan

Answered: 1 week ago