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Use the Income statement shown next to calculate free cash flow for Rainier Printing for 2021. In addition to the Information In the Income
Use the Income statement shown next to calculate free cash flow for Rainier Printing for 2021. In addition to the Information In the Income statement, assume that Rainier had $740,000 in capital expenditures and $540,000 in working capital Investments during 2021. Rainier Printing Income Statement January 1 to December 31, 2021 ($ thousands) Net sales Cost of sales Gross profit Operating expense Depreciation expense Operating income $ 11,800 7,400 4,400 1,240 690 Interest expense 2,470 390 2,080 Income before tax Tax Income after tax Note: Enter your answer in thousands. 832 $ 1,248 Free cash flow
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