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CHIC WORK 7 The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2016 10 Doints INCOME STATEMENT OF QUICK BURGER CORP., 2016 (Figures in 5 millions) Net sales $ 27,572 Costs 17,574 Depreciation 1,487 Earnings before interest and taxes (EBIT) $ 8,591 Interest expense 522 Pretax income 8.969 Taxes 2,824 Net income $ 5,245 eBook Print References 2016 2015 3,488 3,488 382 3,148 3,530 Assets Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets BALANCE SHEET OF QUICK BURGER CORP., 2016 (Figures in 5 millions) 2016 2015 Liabilities and Shareholders' Equity Current liabilities 2,341 2,341 Debt due for repayment 1,380 1,340 Accounts payable 127 122 Total current liabilities 1,094 621 4,942 4,424 Long-term debt 24,682 22,840 Other long-term liabilities 2,809 2,658 Total liabilities 2,988 3,184 Total shareholders' equity 35,421 33,026 Total liabilities and shareholders' equity 13,638 3,062 20,188 15,313 35,421 12,139 2,962 18,631 14,395 33,026 In 2016 Quick Burger had capital expenditures of $3,054 a. Calculate Quick Burger's free cash flow in 2016. (Enter your answer in millions.) Free cash flow million In 2016 Quick Burger had capital expenditures of $3,054 a. Calculate Quick Burger's free cash flow in 2016. (Enter your answer in millions.) Free cash flow million Sook b. If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 35%) (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) ences Additional tax million c. What would the company's free cash flow have been if it was all equity financed? Free cash flow 5 18.250