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Free Cash Flow
Bailey Corporation's financial statements (dollars and shares are in millions) are provided here.
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Balance Sheets as of December 31 |
 | ||
| Â |
2012 |
 |
2011 |
|
Assets |
 | ||
|
Cash and equivalents |
$15,000 |
 |
$11,000 |
|
Accounts receivable |
30,000 |
 |
25,000 |
|
Inventories |
25,765 |
 |
24,000 |
|
Total current assets |
$70,765 |
 |
$60,000 |
|
Net plant and equipment |
49,000 |
 |
46,000 |
|
Total assets |
$119,765 |
 |
$106,000 |
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|
Liabilities and Equity |
 | ||
|
Accounts payable |
$11,000 |
 |
$9,500 |
|
Notes payable |
6,900 |
 |
5,400 |
|
Accruals |
7,100 |
 |
5,000 |
|
Total current liabilities |
$ 25,000 |
 |
$ 19,900 |
|
Long-term bonds |
20,000 |
 |
20,000 |
|
Total debt |
$ 45,000 |
 |
$ 39,900 |
|
Common stock (5,000 shares) |
40,000 |
 |
40,000 |
|
Retained earnings |
34,765 |
 |
26,100 |
|
Common equity |
$74,765 |
 |
$66,100 |
|
Total assets |
$119,765 |
 |
$106,000 |
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|
Income Statement for Year Ending December 31, 2012 |
|
|
Sales |
$248,000 |
|
Operating costs excluding depreciation and amortization |
200,000 |
|
EBITDA |
$ 48,000 |
|
Depreciation & amortization |
3,000 |
|
EBIT |
$ 45,000 |
|
Interest |
5,600 |
|
EBT |
$ 39,400 |
|
Taxes (40%) |
15,760 |
|
Net income |
$ 23,640 |
|
Dividends paid |
14,975 |
Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000.
|
2011 |
$ million |
|
2012 |
$ million |
| Â |
Common Stock |
Retained |
Total Stockholders' |
|
|
Shares |
Amount |
|||
|
Balances, 12/31/11 |
million |
$ million |
$ million |
$ million |
|
2012 Net Income |
 |
million |
 | |
|
Cash Dividends |
 |
million |
 | |
|
Addition (Subtraction) to retained earnings |
 |  |
million |
|
|
Balances, 12/31/12 |
million |
$ million |
$ million |
$ million |
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