Question
The 2015 income statement for Egyptian Noise Blasters shows that depreciation expense is $93 million, NOPAT is $278 million. At the end of the year,
| The 2015 income statement for Egyptian Noise Blasters shows that depreciation expense is $93 million, NOPAT is $278 million. At the end of the year, the balance of gross fixed assets was $715 million. The change in net operating working capital during the year was $83 million. Egyptians free cash flow for the year was $245 million. |
| Calculate the beginning-of-year balance for gross fixed assets. |
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Financial Management For Decision Makers
Authors: Peter Atrill
8th Edition
129213433X, 978-1292134338
