Question
Vinnys Overhead Construction had free cash flow during 2015 of $38.1 million. The change in gross fixed assets on Vinnys balance sheet during 2015 was
Vinnys Overhead Construction had free cash flow during 2015 of $38.1 million. The change in gross fixed assets on Vinnys balance sheet during 2015 was $8.0 million and the change in net operating working capital was $9.0 million. Calculate the missing amounts on Vinnys income statement below. (Enter your answers in millions of dollars rounded to 2 decimal places. Input all amounts as positive values.)
VINNYS OVERHEAD CONSTRUCTION, CORP.
Income Statement for Year Ending December 31, 2015 (in millions of dollars)
Net sales $ ?
Less: Cost of goods sold $133.1
Gross profits $ 91.00
Less: Other operating expenses $ 19.40
Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 71.60
Less: Depreciation 16.60
Earnings before interest and taxes (EBIT) $ ?
Less: Interest $ ?
Earnings before taxes (EBT) $ ?
Less: Taxes $ ?
Net income $ 30.24
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