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What was the 2016 free cash flow? Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December

image text in transcribedWhat was the 2016 free cash flow?

Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 $2,860.0 $2,200.0 Sales Operating costs excluding depreciation and 2,431.0 1,870.0 amortization $429.0 $330.0 EBITDA Depreciation and amortization 61.0 48.0 Earnings before interest and taxes (EBIT) $368.0 $282.0 Interest 63.0 48.0 Earnings before taxes (EBT) $305.0 $234.0 Taxes (40%) 122.0 93.6 Net income $183.0 $140.4 Common dividends $165.0 $112.0 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2016 2015 Assets Cash and equivalents $36.0 $29.0 Accounts receivable 380.0 330.0 Inventories 475.0 396.0 Total current assets $891.0 $755.0 Net plant and equipment 605.0 484.0 Total assets $1,496.0 $1,239.0 Liabilities and Equity Accounts payable $275.0 $220.0 Accruals 194.0 176.0 Notes payable 57.0 44.0 Total current liabilities $526.0 $440.0 Long-term bonds 572.0 440.0 Total liabilities $1,098.0 $880.0 Common stock 337.0 316.0 Retained earnings 61.0 43.0 $398.0 $359.0 Common equity Total liabilities and equity $1,496.0 $1,239.0

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