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Q15. Below you will find the financial statements for the S. MacKenzie Corporation for 2003 and 2004. Determine the firm's Operating Current Assets and Liabilities,

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Q15. Below you will find the financial statements for the S. MacKenzie Corporation for 2003 and 2004. Determine the firm's Operating Current Assets and Liabilities, Net Operating Working Capital, Operating Capital, Net Operating Profit After Taxes and Free Cash Flow for 2004. (Show how these numbers were calculated below the spreadsheet.) S. Mackenzie Corp 2004 2003 2004 Cash 2003 S 15.00 S-Term Invest. Accts Receive S 18.00 Acets Payable 0.00 Notes Payable 0.00 150.00 180.00 Accruals $ 90,00 108.00 51.SO 67.00 $ S600 72.00 s S 201.50 247.00 150.00 150.00 Inventories S 240.00 S 288.00 Total Cur Liabs. $ 486.00 Long-term Debt S 405.00 275.00 330.00 Common Stock 50.00 S0.00 Total Cur Asst Gross Fis Assts Less: Deprecen Net Fix Asst 25.00 $ 250,00 30.00 Retained Earnings S 208.00 225.00 S $ 300.00 Total Equity $ 258.00 275.00 Total Liabs S 78600&Equity S609 50 672.00 Total assets 5.655.00 2003 2004 S $ 1.500,00 1.800.00 Sales Operating Costs excl Depreciation 850,00 1.350.00 Depreciation $25.00 30.000 Total Operating Costs EBIT S 875.00 1.380.00 625.00 420.00 Interest expense EBT S 20.20 604.80 21.70 398 30 $ 159.32 S 238.98 Taxes 40.0% $ 241.92 Net income S 362.88 2004 2003 S 405.00 150.00 Operating Current Assets Operating Current Liabilities Net Operating Working Capital Operating Capital Net Operating Profit After- Tax Free Cash Flow S 255.00 S 505.00 S 375.00

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