Q$3.$ Consider the balance sheets and selected data from the income statement of Kenneth

Corporation that appear below:

Liabilities and Stockholder's Equity ${?}_{(}())$

Kenneth Corporations Income Statement $(2022)$

a$.$ Calculate the free cash flow $($FCF$)$ for the year ended December $31,2022?$

b$.$ Compute Return on invested capital $($ROIC$)$ and Economic Value Added $($EVA$)$ for

$2022?$ If the cost of capital is $10\%,$ how is the firm performing? Discuss.

c$.$ List $5$ benefits of positive free cash flows.

$(20$ points$)$