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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 statement,
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 $660,000 in capital expenditures and $460,000 in working capital investments during 2021.
Rainier Printing Income Statement | |
January 1 to December 31, 2021 ($ thousands) | |
Net sales | $ 10,200 |
---|---|
Cost of sales | 6,600 |
Gross profit | 3,600 |
Operating expense | 1,160 |
Depreciation expense | 610 |
Operating income | 1,830 |
Interest expense | 310 |
Income before tax | 1,520 |
Tax | 456 |
Income after tax | $ 1,064 |
Note: Enter your answer in thousands.
WHAT IS THE FREE CASH FLOW IN THE THOUSANDS ?
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