Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The income statement for Duffy's Pest Control shows that depreciation expense was $ 1 9 6 million, EBrT was $ 5 0 2 million, and

The income statement for Duffy's Pest Control shows that depreciation expense was $196 million, EBrT was $502 million, and the tax
rate was 35 percent. At the beginning of the year, the balance of gross fixed assets was $1.572 million and net operating working
capital was $416 million. At the end of the year, gross fixed assets was $1,818 million. Duffy/s free cash flow for the year was $415
mililon.
Calculate the end-of-year balance for net operating working capital.
Note: Enter your answers in millions of dollars rounded to 1 decimal place. (i.e., Enter 5,500,000 as 5.5.)
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Finance questions