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Suppose that you have been provided with the following reformulated Balance Sheet for a typical manufacturing company. Financial Assets (FA) Financial cash Short-term investments Total

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Suppose that you have been provided with the following reformulated Balance Sheet for a typical manufacturing company. Financial Assets (FA) Financial cash Short-term investments Total Financial Assets 50 100 150 Operating Assets (OA) Operating cash Accounts Receivable Inventory Leased assets Property and Plant Intangibles Other Assets Total Operating Assets 20 100 100 150 370 100 30 870 200 Financial Obligations (FO) Lease liability Bonds payable Derivative financial securities Total Financial Obligations 300 20 520 Net Financial Obligations (NFO) 370 Operating Liabilities (OL) Accounts payable Deferred tax liability Provisions Total Operating Liabilities 100 20 50 170 Shareholders' Equity Preference shares Common shares Retained earnings Non-controlling interest Total Shareholders' Equity 80 100 100 50 Net Operating Assets (NOA) 700 330 Based on this information, what is company's free cash flow (FCF) for 2020? 1.223 2.37 3.186 4.149 Suppose that you have been provided with the following reformulated Balance Sheet for a typical manufacturing company. Financial Assets (FA) Financial cash Short-term investments Total Financial Assets 50 100 150 Operating Assets (OA) Operating cash Accounts Receivable Inventory Leased assets Property and Plant Intangibles Other Assets Total Operating Assets 20 100 100 150 370 100 30 870 200 Financial Obligations (FO) Lease liability Bonds payable Derivative financial securities Total Financial Obligations 300 20 520 Net Financial Obligations (NFO) 370 Operating Liabilities (OL) Accounts payable Deferred tax liability Provisions Total Operating Liabilities 100 20 50 170 Shareholders' Equity Preference shares Common shares Retained earnings Non-controlling interest Total Shareholders' Equity 80 100 100 50 Net Operating Assets (NOA) 700 330 Based on this information, what is company's free cash flow (FCF) for 2020? 1.223 2.37 3.186 4.149

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