The following is a recent income statement for Hegel Publishing.
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 Hegel’s free cash flow in this year assuming it spent $510 on new capital equipment and increased current assets net of non-interestbearing current liabilities by $340.
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