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Question (13 marks) Below are summary numbers for 2018 and 2019 for Apex Ltd. (in million dollars). 2019 2018 Operating assets 18,057.0 16,796.2 Operating liabilities
Question (13 marks)
Below are summary numbers for 2018 and 2019 for Apex Ltd. (in million dollars).
| 2019 | 2018 |
Operating assets | 18,057.0 | 16,796.2 |
Operating liabilities | 6,011.8 | 5,927.2 |
Financial assets | 382.7 | 270.8 |
Financial liabilities | 6,496.4 | 4,395.4 |
Operating income (after tax) | 2,740.1 |
|
Net financial expense (after tax) | 147.1 |
|
Required:
Calculate Apexs free cash flow in 2019 using both Method 1 and Method 2.
(Hint: Method 1 focuses on the source of free cash flow; Method 2 focuses on the disposition of free cash flow)
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