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$27,567Costs17,569Depreciation1,402Earnings before interest and taxes (EBIT)$8,596Interest expense517Pretax income8,079Federal plus other taxes2,614Net income$5,465

BALANCE SHEET OF QUICK BURGER CORP., 2019(Figures in $ millions)Assets20192018Liabilities and Shareholders' Equity20192018Current assetsCurrent liabilitiesCash and marketable securities$2,336$2,336Debt due for repayment?$367Receivables1,3751,335Accounts payable$3,4033,143Inventories122117Total current liabilities$3,403$3,510Other current assets1,089616Total current assets$4,922$4,404Fixed assetsLong-term debt$13,633$12,134Property, plant, and equipment$24,677$22,835Other long-term liabilities3,0572,957Intangible assets (goodwill)2,8042,653Total liabilities$20,093$18,601Other long-term assets2,9833,099Total shareholders' equity15,29314,390Total assets$35,386$32,991Total liabilities and shareholders' equity$35,386$32,991

In 2019 Quick Burger had capital expenditures of $3,049.

a.Calculate Quick Burger's free cash flow in 2019.(Enter your answer in millions.)

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)

c.What would the company's free cash flow have been if it was all-equity financed?(Enter your answer in millions.)

Homework Ch3 * *Homework Help - Q&A from On x // Stock Based Compensation - Ove x - X +- CD https:/ewconnect.mheducation.com/flow/connect.html Managed bookmarks Homework Ch3 1 Saved Help Save & Exit Submit Check my work 8 The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP. , 2019 10 (Figures in $ millions) points Net sales $ 27,567 Costs 17,569 Depreciation 1,402 Earnings before interest and taxes (EBIT ) 8,596 Interest expense 517 Book Pretax income 8,079 Federal plus other taxes 2, 614 Net income $ 5,465 Print BALANCE SHEET OF QUICK BURGER CORP. , 2019 Figures in $ millions) 2019 2318 2019 2018 References Assets Liabilities and Shareholders' Equity Current assets Current liabilities Cash and marketable securities $ 2,336 $ 2,336 Debt due for repayment 367 Receivables 1,375 1,335 Accounts payable 3,403 3,143 Inventories 122 117 Total current liabilities $ 3,403 $ 3,510 Other current assets 1, 089 616 Total current assets $ 4,922 $ 4,404 Fixed assets Long-term debt $ 13, 633 $12,134 Property, plant, and equipment $ 24, 677 $22,835 Other long-term liabilities 3, 057 2,957 Intangible assets ( goodwill) 2,804 2,653 Total liabilities $ 20, 093 $18,601 Other long-term assets 2,983 3, 099 Total shareholders' equity 15, 293 14,390 Total assets $ 35 , 386 $32,991 Total liabilities and shareholders' equity $ 35,386 $32,991 In 2019 Quick Burger had capital expenditures of $3,049. a. Calculate Quick Burger's free cash flow in 2019. (Enter your answer in millions.) Free cash flow $ $ (3,147) 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) Grav Hill O Type here to search e 9 4:43 PM UPFOX 6/17/2019