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Financial information for Powell Panther Corporation is shown here. FREE CASH FLOW Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2015 2014 Sales $1.200.00 $1,000.00 Operating costs excluding depreciation and amortization 1,020.00 8500 EBITDA 180.0 150.0 Depreciation & amortization 30.00 25.0 Earnings before interest and taxes (EBIT 125.0 21.7 Earnings before taxes (EBT 1283 104.8 Taxes (40%) 51.3 419 629 Net income Common dividends S 60.5 46.4 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2015 2014 Cash and equivalents 120 10.0 Accounts receivable 180.0 150.0 180.0 nventories Total current assets $372.0 $360.0 Net plant and equipment 250.0 Total assets $610.0 Liabilities and Equity Accounts payable 90.0 $108.0 Accruals 60.0 Notes payable 670 51.5 $2470 Total current liabilities $201.5 Long-term bonds 150.0 150.0 $3515 Total liabilities $3970 Common stock (50 million shares) 50.0 Retained earnings 2250 Common equity $2750 $258.5 Total liabilities and equity 10.0 a. What was net operating working capital for 2014 and 2015? b. What was the 2015 free cash flow

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Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
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ISBN: 9781305635937
Author: Eugene F. Brigham, Joel F. Houston
Publisher: Cengage Learning
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