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The 2021 income statement for Duffys Pest Control shows that depreciation expense was $207 million, EBIT was $524 million, and the tax rate was 35
The 2021 income statement for Duffys Pest Control shows that depreciation expense was $207 million, EBIT was $524 million, and the tax rate was 35 percent. At the beginning of the year, the balance of gross fixed assets was $1,594 million and net operating working capital was $427 million. At the end of the year, gross fixed assets was $1,851 million. Duffys free cash flow for the year was $437 million.
Calculate the end-of-year balance for net operating working capital.
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