Question: This is the full question, there is no more information. You are trying to value Google in August of 2020. The last 10-K was December

 This is the full question, there is no more information. You

This is the full question, there is no more information.

You are trying to value Google in August of 2020. The last 10-K was December 31, 2019, and the firm has since released two quarterly reports (10-Qs), with the most recent for the end of June 2020. From the most recent 10-K and the most recent 10-Q, you have (in $ millions): 6 Months 6 Months Annual Ending Ending Dec. 2019 June 2019 June 2020 Revenues 161,857 75,283 79,456 Operating Income 34,231 14,360 15,788 Taxes 5,282 2,239 3,689 Net Income 34,343 13,795 16,604 CAPEX 26,063 11,011 11,751 Deprec & Amort 11,781 5,448 6,494 Current Assets 152,578 149,069 Current Liabilities 45,221 43,658 Cash 119,675 121,080 a. Find the non-cash working capital, the tax rate, and the firm's free cash flow for year-end 2019 based on the annual report. Note: non-cash working capital in 2018 was -$8,084M. b. Compute the up-to-date trailing 12-month figures for revenues, operating income, taxes, net income, the tax rate, CAPEX, and depreciation. Also, compute the most up-to-date figure for non-cash working capital. c. Compute the firm's annual free cash flow based on the most up-to-date annual figures. Does this number differ substantially from that found based on the last annual report in (a)

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