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You have the following information for firm X. Assume the firms tax rate is 21% Line Item 2020 2021 Sales 22000 24000 Depreciation 3100 3200
You have the following information for firm X. Assume the firms tax rate is 21%
Line Item | 2020 | 2021 |
Sales | 22000 | 24000 |
Depreciation | 3100 | 3200 |
Cost of Goods sold | 7400 | 9000 |
Other Expenses | 2000 | 1500 |
Interest Expense | 1400 | 1700 |
Cash | 11000 | 12000 |
Accounts Receivable | 15000 | 18000 |
Short-Term Debt | 2000 | 3000 |
Long-Term Debt | 38000 | 46000 |
Net Fixed Assets | 95000 | 101000 |
Accounts Payable | 8000 | 8700 |
Inventory | 27000 | 28000 |
Dividends | 3000 | 4000 |
A. Create an income statement for 2020 and 2021 for firm X.
b. (2.5 points each/5 points total.) Create a balance sheet for 2020 and 2021 for firm X.
c. What is the free cash flow for 2020 and 2021?
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