Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Calculate free cash flow for 2021 for Monarch Textiles, Incorporated, based on the financial information that follows. Assume that all
current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2021.
Monarch Textiles, Incorporated ($ thousands)
Income statement
Selected balance sheet items
2021
2020
2021
Sales
1,190 Current assets.
330
445
Cost of sales
718 Net fixed assets
112
224
Operating expenses
106 Current liabilities
215
295
Depreciation
56
Interest expense
50
Earnings before taxes
260
Tax
104
Net income
156
Note: Round your answer to the 1000s place.
Free cash flow
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Transcribed Image Text:You received no credit for this question in the previous attempt. View previous attempt Calculate free cash flow for 2021 for Monarch Textiles, Incorporated, based on the financial information that follows. Assume that all current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2021. Monarch Textiles, Incorporated ($ thousands) Income statement Selected balance sheet items 2021 2020 2021 Sales 1,190 Current assets. 330 445 Cost of sales 718 Net fixed assets 112 224 Operating expenses 106 Current liabilities 215 295 Depreciation 56 Interest expense 50 Earnings before taxes 260 Tax 104 Net income 156 Note: Round your answer to the 1000s place. Free cash flow
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Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning