Problem 2-37 Free Cash Flow (LG2-5)

Rebeckys Flowers 4U, Inc., had free cash flows during 2015 of $50 million, NOPAT of $89 million, and depreciation of $21 million. Using this information, calculate the missing amounts on Rebeckys balance sheet below. (Enter your answers in millions of dollars.)

REBECKYS FLOWERS 4U, INC. Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars)
	2015			2014					2015			2014
Assets								Liabilities and Equity
Current assets:								Current liabilities:
Cash and marketable securities	$	34		$	31			Accrued wages and taxes	$	32		$	30
Accounts receivable		92			82			Accounts payable					50
Inventory		145			127			Notes payable		50			50
Total	$	271		$	240			Total	$			$	130
Fixed assets:								Long-term debt:	$			$	361
Gross plant and equipment	$	530		$	480			Stockholders equity:
Less: Depreciation		61			40			Preferred stock (4 million shares)	$	4		$	4
								Common stock and paid-in surplus		60			60
Net plant and equipment	$	469		$	440			(30 million shares)
Other long-term assets		80			80			Retained earnings		242			205
Total	$	549		$	520			Total	$	306		$	269
Total assets	$	820		$	760			Total liabilities and equity	$	820		$	760