Use the data below to compute 2014 FCF (Free Cash Flow):

	2014	2013
Cash	14	20
Short-term investments	9	69
Accounts receivable	370	315
Inventories	552	419
Property, plant & equipment (net)	927	874
Accounts payable	47	35
Short-term debt	96	63
Accrued liabilities	149	134
Long-term debt	663	580
Common stock	130	130
Retained earnings	768	713
Net revenue	3148	2854
Depreciation expense	113	93
Interest	88	64
Taxes	82	82
Net income	255	123

(Round to the nearest whole dollar)

Answer:

111

(114)

Use the data below to compute the change in Gross Fixed Assets (i.e. Change in Gross property, plant & equipment)

	2014	2013
Cash	16	19
Short-term investments	7	66
Accounts receivable	365	320
Inventories	553	416
Property, plant & equipment (net)	929	874
Accounts payable	45	35
Short-term debt	99	63
Accrued liabilities	145	130
Long-term debt	663	580
Common stock	130	130
Retained earnings	769	715
Net revenue	3147	2855
Depreciation expense	114	94
Interest	89	65
Taxes	79	83
Net income	254	124

(Round to the nearest whole dollar)

Answer:

55

(169)

Use the data below to compute 2014 OCF (Operating Cash Flow):

	2014	2013
Cash	14	16
Short-term investments	8	68
Accounts receivable	367	316
Inventories	551	419
Property, plant & equipment (net)	929	873
Accounts payable	45	32
Short-term debt	99	65
Accrued liabilities	149	135
Long-term debt	658	582
Common stock	130	130
Retained earnings	768	712
Net revenue	3144	2850
Depreciation expense	114	95
Interest	91	63
Taxes	83	83
Net income	254	123

(Round to the nearest whole dollar)

Answer:

429

(437)