Suppose you are the only owner of a chain of coffee shops near universities. Your current cafs are doing well, but you are interested in starting a fine-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 $147,000 in EBIT .The corporate tax rate applicable to your business is 35% The depreciation expense reported in the financial statements is $28,000 You don't need to spend any money for new equipment in your existing cafs; however, you do need $22,050 of additional cash You also need to purchase $11,760 in additional supplies--such as cloth, tableclothes and napkins, and more formal tableware-on credit. . It is also estimated that your accruals, including taxes and wages payable, will increase by $7,350. Based on your evaluation you have in free cash flow. Can a company have negative free cash flow? Yes No