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Woodlands Inc. 2015 Income Statement ($ in millions) $3,806 2,315 311 $634 Total operating revenues Cost of goods sold Selling, general, and administrative expenses 546

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Woodlands Inc. 2015 Income Statement ($ in millions) $3,806 2,315 311 $634 Total operating revenues Cost of goods sold Selling, general, and administrative expenses 546 Depreciation Earnings before interest and taxes (EBIT) Interest expense 170 Pretax income Taxes $464 162 $302 75 Net income Dividends Woodlands Inc. Balance Sheet ($ in millions) 2015 2014 Liabilities and Stockholders Equity 2015 2014 $ 6865 613 1,3001,350 1,5001,500 745 745 579 352 Assets Cash and Accounts Inventory s 503 $ 227 Accounts payable equivalents 418 522 Long-term debt 1,239 1,187 Common stock receivable Net property & 2,290 2.264 Capital surplus Intangible assets 360 360 Retained earnings Total assets equipment Tolal assets 4810 $4 560 Tota laltes & stockholders equns4 810 %4.560 48 10 $4 560 Tota libities & stockholders equity $4810560 Given the above financial statements for Woodlands, a. b. What was Woodlands' operating cash flow for 20152 What was the free cash flow for Woodlands in 2015? (20 pts)

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