Quantitative Problem: Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below. Balance Sheets: 2013 2012 Cash and equivalents $100 $85 Accounts receivable 275 300 Inventories 375 250 Total current assets $750 $635 Net plant and equipment 2,300 1,490 Total assets $3,050 $2,125 Accounts payable $150 $85 Accruals 75 50 Notes payable 150 75 Total current liabilities $210 $375 Long-term debt 450 290 Common stock 1,225 1,225 Retained earnings 1,000 400 Total liabilities and equity $3,050 $2,125 Income Statements: 2013 2012 Sales $2,900 $1,600 Operating costs excluding depreciation 1,250 1,000 $600 EBITDA $1,650 Depreciation and amortization 100 75 EBIT $1,550 $525 Interest 62 45 $480 EBT $1,488 Taxes (40%) 595 192 $893 Net income $288 Dividends paid $53 $48 Addition to retained earnings $600 $240 Shares outstanding 100 100 Price $25.00 $22.50 WACC 10.00% The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. Using the financial statements given above, what is Rosnan's 2013 free cash flow (FCF)? Use a minus sign to indicate a negative FCF 170