Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2015 income statement for Duffys Pest Control shows that depreciation expense was $201 million, EBIT was $512 million, and the tax rate was 30

The 2015 income statement for Duffys Pest Control shows that depreciation expense was $201 million, EBIT was $512 million, and the tax rate was 30 percent. At the beginning of the year, the balance of gross fixed assets was $1,582 million and net operating working capital was $421 million. At the end of the year, gross fixed assets were $1,833 million. Duffys free cash flow for the year was $425 million.

Calculate the end-of-year balance for net operating working capital. (Enter your answer in millions of dollars rounded to 1 decimal place.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction To Socio-Finance

Authors: Jørgen Vitting Andersen, Andrzej Nowak

2013th Edition

3642419437, 978-3642419430

More Books

Students also viewed these Finance questions

Question

What is an income statement, and how is it organized?

Answered: 1 week ago

Question

A consumer has preferences

Answered: 1 week ago