Vinny's Overhead Construction had free cash flow during 2021 of $25.4 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $5.0 million and the change in net operating working capital was $6.0 million. Calculate the missing amounts on Vinny's income statement below. (Enter your answers in millions of dollars rounded to 2 decimal places.) Net sales VINNY'S OVERHEAD CONSTRUCTION, CORP. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Less: Cost of goods sold 118.10 Gross profits $ 61.00 Less: Other operating expenses 14.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 46.60 Less: Depreciation 12.60 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $ 15.54

Vinny's Overhead Construction had free cash flow during 2021 of $25.4 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $5.0 million and the change in net operating working capital was $6.0 million. Calculate the missing amounts on Vinny's income statement below. (Enter your answers in millions of dollars rounded to 2 decimal places.) Net sales VINNY'S OVERHEAD CONSTRUCTION, CORP. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Less: Cost of goods sold 118.10 Gross profits $ 61.00 Less: Other operating expenses 14.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 46.60 Less: Depreciation 12.60 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $ 15.54

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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