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Use the following to answer questions 10 through 14 Last year ABC Corp had $10 million in operating income (EBIT). Its depreciation expense was $4

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Use the following to answer questions 10 through 14 Last year ABC Corp had $10 million in operating income (EBIT). Its depreciation expense was $4 million, its interest expense was $3 million, and its corporate tax rate was 37.6%. At year-end, it had $22 million in current assets, $3 million in accounts payable, $1 million in accurals, $2 million in notes payable, and $15 million in net plant and equipment. Rattner had no other current liabilities. Assume that Rattner's only noncash item was depreciation. 10. What was the company's net income? 11. What was its net operating working capital (NOWC)? 12. What was its net operating capital (NWC)? 13. ABC Corp had $12 million in net plant and equipment the prior year. Its net operating working has remained constant over time. What is the company's free cash flow (FCF) for the year that just ended? 14. ABC Corp has 1,000,000 common shares outstanding and the common stock amount on the balance sheet is $10 million. The company has not issued or repurchased common stock during the year. Last year's balance in retained earnings was $11.2 million and the firm paid out dividends of $1.2 million during the year. What was ABC Corp's end-of-year statement of stockholder's equity

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