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You are provided the following partial financial statements of Fortlake Limited. Fortlake Limited Financial Statements (Figures are in $millions) Fiscal Year: 2018 2019 2020 Partial
You are provided the following partial financial statements of Fortlake Limited. Fortlake Limited Financial Statements (Figures are in $millions) Fiscal Year: 2018 2019 2020 Partial Balance Sheet Short-term Assets Cash 10.0 20.0 25.1 Inventories 20.7 24.2 26.5 Accounts Receivable 4.2 4 6.0 Short-term Liabilities Accounts Payable 12.1 12.6 10.3 Loan portion due 20.0 20.0 20.0 Profit and Loss Statement Revenues 256.1 283.6 318.1 Expenses 156.4 169.2 190.1 Depreciation 3.5 3.6 4.0 EBIT 96.2 110.8 124.0 If the firm's marginal tax rate is 37.0%, what is the free cash flow expected in the 2020 Fiscal Year? millions. (Round to two decimal places)
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