Calculate free cash flow for 2017 for Monarch Textiles, Inc., based on the financial information that follows. Assume thatall current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2017.(Round your answer to 1 decimal places.)SalesCost of salesIncome statementOperating expensesDepreciationInterest expenseEarnings before taxesTaxNet incomeFree cash flowMonarch Textiles, Inc. ($ thousands)20171,2807601306250278.00111.20166.80X Answer is complete but not entirely correct.$ 140.9Selected balance sheet itemsCurrent assetsNet fixed assetsCurrent liabilities20163601242302017490248310

Formula for Free cash flow = EBIT * (1- Tax rate) + Depreciation- Change in working capital -…

Calculate free cash flow for 2017 for Monarch Textiles, Inc., based on the financial information that follows. Assume that all current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2017. (Round your answer to 1 decimal places.) Income statement Sales Cost of sales Operating expenses Depreciation Interest expense Earnings before taxes Tax Net income Monarch Textiles, Inc. ($ thousands) 2017 1,280 760 130 62 50 278.00 111.20 166.80 > Answer is complete but not entirely correct. Free cash flow $ 140.9 x Selected balance sheet items. Current assets Net fixed assets Current liabilities 2016 360 124 230 2017 490 248 310