*( Round to the nearest Dollar)*

Finding operating and free cash flows Consider the balance sheets and selected data from the income statement of Keith Corporation that follow . a. Calculate the firm's net operating profit after taxes (NOPAT) for the year ended December 31, 2019. b. Calculate the firm's operating cash flow (OCF) for the year ended December 31, 2019. c. Calculate the firm's free cash flow (FCF) for the year ended December 31, 2019. d. Interpret, compare and contrast your cash flow estimate in parts (b) and (c). Keith Corporation Balance Sheets December 31 Assets 2019 2018 Cash $1,530 $1,030 Marketable securities 1.830 1,250 Accounts receivable 1.980 1,820 Inventories 2,900 2,850 Total current assets $8,240 $6,950 Gross fixed assets $29,510 $28,110 Less: Accumulated depreciation 14,660 13,050 Net fixed assets $14,850 $15,060 Total assets $23,090 $22,010 Liabilities and Stockholders' Equity Accounts payable $1,560 $1,490 Notes payable 2,830 2,220 Accruals 150 300 Total current liabilities $4,540 $4,010 Long-term debt $5,150 $5,270 Total liabilities $9,690 $9,280 Common stock $9.980 $9,980 Retained earnings 3,420 2,750 Total stockholders' equity $13,400 $12,730 Total liabilities and stockholders' equity $23.090 $22,010 (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Income Statement Data (2019) Depreciation expense Earnings before interest and taxes (EBIT) Interest expense Net profits after taxes Tax rate $1,610 2,720 369 1,857 21%