Balance Sheets as of December 31, 2021 and 2022 ...
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Accounting
Balance Sheets as of December 31, 2021 and 2022
| 2021 2022 Accounts Payable $ 361 $ 444 Short-term Notes Payable 315 270 Long-term Deferred Taxes 318 412 Long-term Debt 2,869 2,956 Common Stock 456 610 Retained Earnings 4,591 4,741
Total Liabilities & Equity $8,910 $9,433 |
| 2021 2022 Cash $ 141 $ 184 Marketable securities 56 32 Accounts receivable 1,025 1,167 Inventory 918 963 Net Fixed Assets 6,770 7,087
Total Assets $8,910 9,433 |
| Luna Lighting Company 2022 Income Statement
Sales $3,990 Less: Cost of Goods Sold 2,137 Less: Depreciation 1,018 Earnings Before Interest and Taxes 835 Less: Interest Paid 267 Earnings Before Taxes 568 Taxes (34%) 193 Net Income $ 375 |
Considering the left-hand side of the cash flow identity (cash flows from assets associated with investment activities), determine Luna Lighting Companys free cash flow (FCF) for the year 2022.
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