Please help me to solve this problem 20222021Sales720,000288,000432,000600,000240,000COGSGross Profit360,000SG & ADepreciation84,00072,00096,000120,000228,00036,000192,00057,600192,00024,000EBITInterest ExpenseEarnings before taxesTaxes (30%)Earnings after Taxes168,00050,400117,600134,400Required:1. Calculate free cash flow to the firm in 2022 using EBIT The following balance sheet and income statement were taken from the records of Y Company20222021ASSETSCash24,00072,00012,00036,00072,000Accounts ReceivableInventory96,000192,000960,000Current Assets120,000720,000GROSS PPEAccumulated Depreciation(456,000)696,000(336,000)TOTAL ASSETS504,000LIABILITIESAccounts Payable48,00048,00024,000Short-term Debt48,00096,000273,600120,000206,400696,000Current Liabilities72,000Long-term Debt240,000Common Stock120,000Retained Earnings72,000TOTAL LIABILITIES AND EQUITY504,000

Statement of cash flows: The statement of cash flows records all the sources and use of the cash in…

Answered: cash flow to the firm in 2022 using…

Business

Accounting

cash flow to the firm in 2022 using EBIT

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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