Use the reorganized QiwiCos income statement and balance sheet to determine companys value. Assume that for the following years the company grows at 5% yearly, determine NOPLAT and FCF for years 1 to 6. Assume an operating tax rate of 30% and debt started to grow from year 3 by 3 %.

QiwiCo: Income Statement and Balance Sheet
$ million
Income statement	Last year	Current year	Next year		Balance sheet	Last year	Current year	Next year
Revenues	1 100	1 210	1 307		Operating cash	22	24	26
Cost of sales	(770)	(871)	(915)		Excess cash and marketable securities	91	74	83
Selling, general, and administrative	(165)	(182)	(196)		Accounts receivable	220	242	261
Depreciation	(33)	(36)	(39)		Inventory	330	363	392
EBIT	132	121	157		Current assets	663	703	763
Interest expense	(15)	(15)	(15)
Gain/(loss) on sale of assets	-	(10)	-		Property, plant, and equipment	440	484	523
EBT	117	96	142		Equity investments	50	50	50
Taxes	(35)	(29)	(43)
Net income	82	67	99		Total assets	1 153	1 237	1 336
Dividends	33	27	40		Accounts payable	275	303	327
					Short-term debt	90	90	90
					Accrued expenses	165	182	196
					Current liabilities	530	574	613
					Long-term debt	210	210	210
					Common stock	100	100	100
					Retained earnings	313	353	413
					Total liabilities and equity	1 153	1 237	1 336