Using the information provided in the table below, please calculate the Free Cash Flow to Equity and Free Cash Flow to the Firm
|
2014
|
2013
|
|
Sales
|
100,000
|
90,000
|
|
Cost of Goods Sold
|
45,000
|
42,000
|
|
Gross Profit
|
55,000
|
48,000
|
|
Operating Expense
|
25,000
|
23,000
|
|
EBITDA
|
30,000
|
25,000
|
|
Dep/Amort
|
5,000
|
4,000
|
|
EBIT
|
25,000
|
21,000
|
|
Interest Expense
|
10,000
|
9,000
|
|
EBT
|
15,000
|
12,000
|
|
Taxes
|
4,500
|
3,600
|
|
Net Income
|
10,500
|
8,400
|
|
Tax Rate
|
30%
|
30%
|
|
Cash
|
5,000
|
4,000
|
|
Accts Receivable
|
26,500
|
22,000
|
|
Inventory
|
38,000
|
33,000
|
|
Current Assets
|
69,500
|
59,000
|
|
PP&E
|
84,000
|
72,000
|
|
Acc. Depreciation
|
15,000
|
10,000
|
|
Net Fixed Assets
|
69,000
|
62,000
|
|
Total Assets
|
138,500
|
121,000
|
|
Accts Payable
|
50,000
|
45,000
|
|
Current Liabilties
|
50,000
|
45,000
|
|
Long-Term Debt
|
42,000
|
40,000
|
|
Total Liabilities
|
92,000
|
85,000
|
|
Common Stock
|
10,000
|
10,000
|
|
Retained Earnings
|
36,500
|
26,000
|
|
Total Equity
|
46,500
|
36,000
|
|
Total L&E
|
138,500
|
121,000
|