You review the financial statements for Sparky Inc. For 2020, you know that they have Sales of $19.3 M, Costs of $11 M, Depreciation of $2.3 M, and a tax rate of 11%. They also had capex of $3.4 M in 2020. Finally, you know that their net working capital in 2020 was $15 M and their net working capital in 2019 was $13 M. What was Sparky Incs FCF in 2020? (Answer in millions. Ex For $2,300,000 put 2.3)

QUESTION 7 10 points Save Answer You review the financial statements for Sparky Inc. For 2020, you know that they have Sales of $19.3 M, Costs of $11 M, Depreciation of $2.3 M, and a tax rate of 11%. They also had capex of $3.4 M in 2020. Finally, you know that their net working capital in 2020 was $15 M and their net working capital in 2019 was $13 M. What was Sparky Inc's FCF in 2020? (Answer in millions. Ex For $2,300,000 put 2.3) QUESTION 8 10 points Saved If Company X has a negative FCF in 2020, what does this mean about the company? They will make positive FCF in 2021. They need to draw down cash reserves or raise more capital. They have a high beta and high risk. Their will likely go bankrupt in 2021 or be sold