Vinny's Overhead Construction had free cash flow during 2021 of $36.1 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $10.0 million and the change in net operating working capital was $11.0 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 135.10 Gross profits $ 95.00 Less: Other operating expenses 21.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 73.60 Less: Depreciation 18.60 Earnings before interest and taxes (EBIT) $ 55.00 Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $ 34.64
Vinny's Overhead Construction had free cash flow during 2021 of $36.1 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $10.0 million and the change in net operating working capital was $11.0 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 135.10 Gross profits $ 95.00 Less: Other operating expenses 21.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 73.60 Less: Depreciation 18.60 Earnings before interest and taxes (EBIT) $ 55.00 Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $ 34.64
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Vinny's Overhead Construction had free cash flow during 2021 of $36.1 million. The change in gross fixed assets on
Vinny's balance sheet during 2021 was $10.0 million and the change in net operating working capital was $11.0 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
135.10
Gross profits
$
95.00
Less: Other operating expenses
21.40
Earnings before interest, taxes, depreciation, and amortization (EBITDA)
$
73.60
Less: Depreciation
18.60
Earnings before interest and taxes (EBIT)
$
55.00
Less: Interest
Earnings before taxes (EBT)
Less: Taxes
Net income
$
34.64
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