Fin 3334 Financial Statement Analysis; Financial Reporting, Financial Statement Analysis, and Valuation (7th Edition)

You are to show your step-by-step solution to the question. Presentation, legibility, and ease of navigation will be a factor in the final grade and will represent 20 percent of each question.

4. Provide a detailed breakdown of Free Cash Flow and a detailed breakdown of dispositions of Free Cash Flow, using the financial statements of X Corp given below

	2014	2015	CF	FCF	DISP
Cash	10	15	-5
Marketable Securities	210	182	28
Account Receivable	80	65	15
Inventory	147	192	-45
Net Fixed Assets	300	353	-53
Total Assets	747	807
Accounts Payable	95	120	25
Accrued Expense	123	180	57
Current Income Tax Payable	10	40	30
Deferred Income Tax	35	42	7
Note Payable	69	50	-19
Long Term debt	190	147	-43
Common Stock	10	10	0
Retained Earnings	250	270	20
Treasury Stock	-30	-42	-12
Accumulated other comp. income	-5	-10	-5
Total Liabilities and Equity	747	807	0
Operating Income		78
Investment Income		15
Interest Expense		-16
Earnings before Tax		77
Tax Provision		-30.8
Net Income		46.2
Other Comprehensive Income		-5
Comprehensive Income		41.2
Free Cash Flow
NOPAT
Less: Increase in NOA
Add: Net Investment income
Free Cash Flow
Dispositions of FCF
Reduction of Mark sec
Payoff of NP
Payoff of LTD
Dividends paid
Interest paid, net of tax
Treas stock purchased
Other comp Income
Total disposition