Below is a recent income statement for Gatlin Camera: Net Sales $8,000 Cost of Sales (including...
Below is a recent income statement for Gatlin Camera:
| Net Sales | $8,000 |
| Cost of Sales (including depreciation of $800) | 4,700 |
| Gross Profit | 3,300 |
| Selling and Admin. expenses (including interest expense of $570) | 1,500 |
| Income before Tax | 1,800 |
| Tax | 612 |
| Income After Tax | 1,188 |
Calculate Gatlin's free cash flow in this year assuming it spent $510 on new capital equipment and increased working capital of $340.
EDIT: Please show the work in order for me to understand
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Below is a recent income statement for Gatlin Camera:
Net Sales
$8,000
Cost of Sales (including...
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