Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The 2021 income statement for Duffy's Pest Control shows that depreciation expense was $207 million, EBIT was $524 million, and the tax rate was 35

image text in transcribed
The 2021 income statement for Duffy's 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 workling capital was $427 million. At the end of the year, gross fixed assets was $1.851 million. Duffy's free cash flow for the year was $437 million. Calculate the end-of yeor balance for net opetating working capital. (Enter your answer in millions of dollors rounded to 1 decimal plece.)

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

Financial Statements A Step By Step Guide To Understanding And Creating Financial Reports

Authors: Thomas Ittelson

1st Edition

1632652072, 978-1632652072

More Books

Students also viewed these Finance questions