Calculate free cash flow for 2021 for Monarch Textiles, Incorporated, 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 2021. Monarch Textiles, Incorporated ($ thousands) Income statement Selected balance sheet items   2021   2020 2021 Sales 1,340 Current assets 380 520 Cost of sales 748 Net fixed assets 132 264 Operating expenses 116 Current liabilities 240 320 Depreciation 66       Interest expense 50       Earnings before taxes 360       Tax 144       Net income 216

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Calculate free cash flow for 2021 for Monarch Textiles, Incorporated, 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 2021.

Monarch Textiles, Incorporated ($ thousands)
Income statement Selected balance sheet items
  2021   2020 2021
Sales 1,340 Current assets 380 520
Cost of sales 748 Net fixed assets 132 264
Operating expenses 116 Current liabilities 240 320
Depreciation 66      
Interest expense 50      
Earnings before taxes 360      
Tax 144      
Net income 216      

Note: Round your answer to the 1000s place.

 

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