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Earnings Statement (2012) below What is the FCF for 2012? Net Sales 2371 Cost of Goods Sold (COGS) 1300 Sales, General and Administrative Expenses (SG&A)

Earnings Statement (2012) below What is the FCF for 2012?

Net Sales

2371

Cost of Goods Sold (COGS)

1300

Sales, General and Administrative Expenses (SG&A)

300

Depreciation

104

Interest

86

Pre-tax Income

581

Taxes (@ 34%)

198

Net Income (NI)

383

Dividends

50

Retained Earnings (RE)

333


Balance Sheet

Year

2011

2012

Cash

404

299

Accounts Receivable

550

600

Inventories

443

475

Total Current Assets

1397

1374

Gross Fixed Assets

5342

6000

Accumulated Depreciation

3200

3304

Net Fixed Assets

2142

2696

Total Net Assets

3539

4070

Accounts Payable

482

482

Accrued Expenses

200

200

Short Term Bank debt

200

423

Total Current-Liabilities

882

1105

Long Term Debt

1025

975

Common Stock and Paid-in Surplus

500

525

Retained Earnings

1132

1465

Total liabilities plus equity

3539

4070



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