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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2 0 2 2 . INCOME STATEMENT OF QUICK
The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for
INCOME STATEMENT OF QUICK BURGER CORPORATION,
Figures in $ millions
Net sales $
Costs
Depreciation
Earnings before interest and taxes EBIT $
Interest expense
Pretax income
Federal taxes @
Net income $
BALANCE SHEET OF QUICK BURGER CORPORATION,
Figures in $ millions
Assets Liabilities and Shareholders' Equity
Current assets Current liabilities
Cash and marketable securities $ $ Debt due for repayment $
Receivables Accounts payable $
Inventories Total current liabilities $ $
Other current assets
Total current assets $ $
Fixed assets Longterm debt $ $
Property, plant, and equipment $ $ Other longterm liabilities
Intangible assets goodwill Total liabilities $ $
Other longterm assets Total shareholders equity
Total assets $ $ Total liabilities and shareholders equity $ $
In Quick Burger had capital expenditures of $
a Calculate Quick Burgers free cash flow in 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 Do not round intermediate calculations. Enter your answer in millions rounded to decimal places.
c What would the companys free cash flow have been if it was allequity financed? Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole number.please provide the values in each step when calculating the answers
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