Problem 2-36 Spreadsheet Problem: Free Cash Flow (LG2-5) Vinny's Overhead Construction had free cash flow during 2024 of $39.8 million. The change in gross fixed assets on Vinny's balance sheet was $7.0 million, the change in net operating working capital was $8.0 million, and the firm's tax rate was 30.00 percent. Calculate the missing amounts on Vinny's income statement below. Note: Enter your answers in millions of dollars rounded to 2 decimal places. (i.e., Enter 5,500,000 as 5.50.) VINNY'S OVERHEAD CONSTRUCTION, CORPORATION Income Statement for Year Ending December 31, 2024 (in millions of dollars) Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income 132.10 $ 90.00 15.60 $ 32.64
Problem 2-36 Spreadsheet Problem: Free Cash Flow (LG2-5) Vinny's Overhead Construction had free cash flow during 2024 of $39.8 million. The change in gross fixed assets on Vinny's balance sheet was $7.0 million, the change in net operating working capital was $8.0 million, and the firm's tax rate was 30.00 percent. Calculate the missing amounts on Vinny's income statement below. Note: Enter your answers in millions of dollars rounded to 2 decimal places. (i.e., Enter 5,500,000 as 5.50.) VINNY'S OVERHEAD CONSTRUCTION, CORPORATION Income Statement for Year Ending December 31, 2024 (in millions of dollars) Net sales Less: Cost of goods sold Gross profits Less: Other operating expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income 132.10 $ 90.00 15.60 $ 32.64
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 22E: Future Value of a Single Cash Flow Jenkins Products has just been paid $25,000 by Shirley...
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