Question: The 2018 income statement for Duffy's Pest Control shows that depreciation expense was $197 million EBIT was $494 million, and the tax rate was30 percent.
The 2018 income statement for Duffy's Pest Control shows that depreciation expense was $197 million EBIT was $494 million, and the tax rate was30 percent. At the beginning of the year, the balance of gross fixed assets was $1,562 million and net operating working capital was $417 million. At the end of the year gross fixed assets was $1,803 million. Duffy's free cash flow for the year was $424 million. Calculate the end-of-year balance for net operating working capital?
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