Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vinny s Overhead Construction had free cash flow during 2 0 2 1 of $ 3 6 . 1 million. The change in gross fixed

Vinnys Overhead Construction had free cash flow during 2021 of $36.1 million. The change in gross fixed assets on Vinnys balance sheet during 2021 was $10.0 million and the change in net operating working capital was $11.0 million.
Calculate the missing amounts on Vinnys income statement below.
VINNYS OVERHEAD CONSTRUCTION, CORP.
Income Statement for Year Ending December 31,2021
(in millions of dollars)
Net sales
Less: Cost of goods sold 135.10
Gross profits $95.00
Less: Other operating expenses 21.40
Earnings before interest, taxes, depreciation, and amortization (EBITDA) $73.60
Less: Depreciation 18.60
Earnings before interest and taxes (EBIT) $55.00
Less: Interest
Earnings before taxes (EBT)
Less: Taxes
Net income $34.64

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mergers Acquisitions And Other Restructuring Activities

Authors: Donald DePamphilis

11th Edition

012819782X, 978-0128197820

More Books

Students also viewed these Finance questions

Question

How is the NDAA used to shape defense policies indirectly?

Answered: 1 week ago

Question

4.4 Summarize the components of a job description.

Answered: 1 week ago