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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
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 $3.0 million and the change in net operating working capital was $4.0 million. Calculate the missing amounts on Vinnys income statement below.
VINNY'S OVERHEAD CONSTRUC TION, CORP. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income \begin{tabular}{|lr|} \hline & \\ \hline & 124.10 \\ \hline$ & 74.00 \\ \hline$ & 20.40 \\ \hline & 53.60 \\ \hline & 18.60 \\ \hline & \\ \hline & 15.55 \\ \hline & \\ \hline \end{tabular}Step by Step Solution
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