Formatting- Table Clipboard Font Alignment Number Styles A1 X FY ending December

Question

Formatting- Table Clipboard Font Alignment Number Styles A1 X FY ending December 31, (USD m) 2 Reference: Financial Statements INCOME STATEMENT (Sm USD) FY 2016 FY 2017 5 Revenue 10,000 0,500 8LESS: Cost of Goods Sold (COGs) 5,000 Gross Protits 5,000 20 Calculation: Revenues-Cost of Goods Sold 12 LESS: Operating Expenses 13 selting expense 14 general& administrative expenses 15 depreciation&amortization; 16 other operating expenses 17 1,700 1,790 500 550 Calculation: we added up all the operating expenses 1,00 Calculation: Gross Profits Operating Expenses rotal Operating Expenses ,400 19 Operating Profits (or EBIT) 22 23 24 PLUS Non-Operating Gains (Losses) LESS: Interest Exporse Net Profits Before Taxes 1001,2 Cakulation Operating Protits interest Expense 26 LESS: Taxes 27 28 420 Net Profits Aftes Taxes overoge fax rate 12 Cakulationc Net Profits Before faxes Tae 35% 15s LESs: Prefened Stock Dividends 30 31 Larnings Available to Common Shareholders Cakulation: Net Predit Aner Taxes , Preferred Stock Dividends; Aho called .Net to Common- ? 12 4 Average Shares Outstanding 15 100shares ourently outstanding Basic Shares Question #1 Question #2 | GAAP Financial Statements

Explanation / Answer

FY 2016 FY2017 Operating Cash Flow EBIT 1,600.00 1,700.00 Average Tax      560.00      595.00 EBIT* (1-Average Tax Rate) 1,040.00 1,105.00 Plus: Depreciation & Amortization      500.00      500.00 Operating Cash Flow 1,540.00 1,605.00 Net current Assets Investment Change in Current Assets      555.00         57.00 Less: Changes inACcounts Payable      100.00         50.00 Less: Changes inACcounts Receivable      175.00      200.00 Net current Assets Investment      280.00     -193.00 Net fixed Assets Investment Change in Gross Fixed Assets      500.00 1,000.00 Net fixed Assets Investment      500.00 1,000.00 Free Cash Flow to firm Operating Cash Flow 1,540.00 1,605.00 Less:Net fixed Assets Investment      500.00 1,000.00 Less: Net current Assets Investment      280.00     -193.00 Free Cash Flow to firm      760.00      798.00

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