QUESTION 2 The company, Garey, Inc. had sales for 2019 of $340,000, and EBITDA was 24% of sales. Furthermore, depreciation was $18,500, interest was $9.750, the corporate tax rate was 21%, and the company pays 18% of its net income as dividends. Given this information and the balance sheets below, calculate the free cash flow for 2019. 2019 2018 Cash 90,400 98,000 Accounts Receivable 74.600 80,000 Inventories 50,000 32,500 Total Current Assets 215,000 210,500 Net Fixed assets 85,000 63,000 Total Assets 300,000 273,500 Accounts Payable Accruals Notes Payable Total Current Liabilities Long-term Debt Total Liabilities Common Stock Retained Earnings Total Common Equity Total Liabilities & Equity a. $30.647 b. $35,146 c. $38,349 d. $29,324 e. None of the answers is within $20 of the correct answer. 26,000 19,600 15,000 50,000 80,000 130,000 80,000 90,000 170,000 300,000 16,000 14,600 17,800 48,400 66,500 114.900 80,000 78,600 158,600 273,500