Exam 1 - The followings are the income statement and the...

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Profit and loss Statement 1/1/02 12/31/02 Sales 400,000 Cost of Sales -296,600 Depreciation -70,083 Interest rate -22,336 Inventory 15,000 Profit before tax 25,981 -2,598 -5,846 Dividends -5,000 Retained earnings 12,537 Balance sheet - Assets 1/1/02 12/31/02 Current assets Cash 500,000 265,966 Treasury securities 30,000 20,000 Prepaid expenses 1,000 500 Payments receivable 0 75,000 Inventory 0 15,000 Total current assets 531,000 376,466 Fixed assets At cost 0 721,000 Accumulate depreciation 0 -70,083 Net Fixed assets 0 650,917 Total assets 531,000 1,027,383 Balance sheet - Liabilities and Equity 1/1/02 12/31/02 Current liabilities Accounts payable 11,000 38,000 Short-term Loan 20,000 15,000 Taxes payable 0 5,846 Total current liabilities 31,000 58,846 Long-term liabilities Mortgage 0 451,000 The followings are the income statement and the balance sheets of the Cristal Clear Compan free cash flow for the company by filling in the highlighted cells in the Free Cash Flow table a the problem. State tax (8%) Federal tax (25%)
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Equity Equity 500,000 505,000 Accumulated retained earnings 0 12,537 Total liabilities and equity 531,000 1,027,383 Free Cash Flow (FCF) Profit After tax 7,537 Add back depreciation 70,083 Change in net working capital
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