Suppose you are the only owner of a chain of coffee shops near universities. Your cutrent cafes are doing well, but you are interested in starting a ine-dining restaurant. You decide to use the cash generated from your existing business to enter into a new business. Your accountant provides you with the following data on your current financial performance: Financial update as of June 15 - Your existing business generates $111,000 in EBIT. - The corporate tax rate applicable to your business is 35%. - The depreciation expense reported in the financial statements is $21,143. - You don't need to spend any money for new equipment in your existing cafs; however; you do need $16,650 of additional cash. - You also need to purchase $8,880 in additional supplies-such as cloth tablecloths and napkins, and more formal tableware-on credit. - It is also estimated that your accruals, including taxes and wages payable, will increase by $5,550. Based on your evaluation you have in free cash flow. Can a company have negative free cash flow? Yes No