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The 2018 income statement for Duffys Pest Control shows that depreciation expense was $193 million, EBIT was $496 million, and the tax rate was 35
The 2018 income statement for Duffys Pest Control shows that depreciation expense was $193 million, EBIT was $496 million, and the tax rate was 35 percent. At the beginning of the year, the balance of gross fixed assets was $1,566 million and net operating working capital was $413 million. At the end of the year, gross fixed assets was $1,809 million. Duffys free cash flow for the year was $409 million.
Calculate the end-of-year balance for net operating working capital
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