SB $($Static$)$ Consider the following balance sheet and $...$

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$[$The following information applies to the questions displayed below.$]$

Consider the following balance sheet and income statement for Mmm Good Foods Incorporated $($the company that operates Tasty Fried Chicken and Pizza Party$),$ in condensed form, including some information from the cash flow statement: $($amounts are millions$)$

Mmm Good Foods Incorporated

Balance Sheet $201920182017$

Cash and short$-$term investments $ $743$ $ $443$ $ $1,723$

Accounts receivable $623597575$

Inventory $13$

Other current assets $161167196$

Long$-$lived assets $3,7042,9232,804$

Total assets $ $5,231$ $ $4,130$ $ $5,311$

Current liabilities $ $1,541$ $ $1,301$ $ $1,512$

Total liabilities $13,24712,05611,645$

Shareholders$$ equity $(8,016)(7,926)(6,334)$

Total liabilities and equity $ $5,231$ $ $4,130$ $ $5,311$

Income Statement

Sales $ $5,597$ $ $5,688$ $ $5,878$

Cost of sales $1,2351,6342,954$

Gross margin $ $4,362$ $ $4,054$ $ $2,924$

Earnings before interest and taxes $ $1,859$ $ $2,291$ $ $2,719$

Interest $486452445$

Taxes $79297934$

Net income $ $1,294$ $ $1,542$ $ $1,340$

Share price $ $102$ $ $92$ $ $82$

Earnings per share $4\mathrm{.}234\mathrm{.}803\mathrm{.}86$

Number of outstanding shares $($millions$)300306332$

Cash Flows

Cash flow from operations $ $1,315$ $ $1,176$ $ $1,030$

Capital expenditures $196234318$

Dividends $511462416$

Exercise $20-39($Static$)$ Business Valuation $[$LO $20-4]$

Required:

Determine the valuation of the company at the end of $2019$ using each of the following three methods. Assume earnings and cash flows for the coming $10$ years are equal to the earnings and cash flows in $2019$; the appropriate free cash flow multiple is $23\mathrm{.}4.($Enter your answers in millions rounded to nearest whole number.$)$

a$.$ Market capitalization.

b$.$ Enterprise value.

c$.$ Free cash flow multiple.