Financial Statements to answer questions, showing calculations:
Homework Answers
Cash flow from firm or Free Cash flow from Firm = Operating cash flow - Change in Net Working Capital - Net Capital Spending
- Operating cash flow = EBIT(1-Tax rate) + Depreciation
Tax Rate = taxes/taxable Income = $455/$1300 = 35%
Operating cash flow of 2016 = $1930(1-0.35) + $1370
= $ 2624.5
- Change in Net Working Capital = Net Working Capital of 2016 - Net Working Capital of 2015
Net Working Capital = Current Assets - accounts Payable (Notes Payable is not part of Working Capital)
Change in Net Working Capital of 2016 = ($7310 -$2860) - ($6225 -$2720) = $4450 - $3505
= $945
- Net Capital Spending of 2016 = Net Fixed assets of 2016 + depreciation of 2016 - Net Fixed assets of 2015
= $10670 +$1370 - $10960
= $ 1080
Cash flow from firm of 2016 = $2624.5 - $945 -$1080
= $ 599.5
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