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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures

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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,578 Costs 17,580 Depreciation 1,413 Earnings before interest and taxes (EBIT) $ 8,585 Interest expense 528 Pretax income 8,057 Federal taxes (@218) 1,692 Net income $ 6, 365 2018 S 400 3,154 $ 3,554 Assets Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) 2019 2018 Liabilities and Shareholders' Equity 2019 Current liabilities $ 2,347 $ 2,347 Debt due for repayment 1,386 1,346 Accounts payable $ 3,414 133 128 Total current liabilities $ 3,414 1,100 627 $ 4,966 $ 4,448 Long-term debt $ 13,644 $ 24,688 $22,846 Other long-term liabilities 3,068 2,815 2,664 Total liabilities $ 20,126 2,994 3,110 Total shareholders' equity 15,337 $35, 463 $ $33,068 Total liabilities and shareholders' equity $35,463 $12, 145 2,968 $18,667 14,401 $33,068 In 2019 Quick Burger had capital expenditures of $3,060. a. Calculate Quick Burger's free cash flow in 2019. (Enter your answer in millions.) Answer is complete but not entirely correct. Free cash flow S 3,860 million b. If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 21%.) (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) X Answer is complete but not entirely correct. Additional tax $ S 184.80 million c. What would the company's free cash flow have been if it was all-equity financed? (Enter your answer in millions.) Answer is complete but not entirely correct. Free cash flow $ 3,675 X

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