Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below. Balance Sheets: 2013 2012 Cash and equivalents $100 $85 Accounts...

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Finance

Rosnan Industries' 2013 and 2012 balance sheets and incomestatements are shown below.
Balance Sheets:
2013 2012
Cash and equivalents $100   $85
Accounts receivable 275   300
Inventories 375   250
      Total current assets $750   $635
Net plant and equipment 2,300   1,490
Total assets $3,050   $2,125
Accounts payable $150   $85
Accruals 75   50
Notes payable 150   75
      Total currentliabilities $375   $210
Long-term debt 450   290
Common stock 1,225   1,225
Retained earnings 1,000   400
Total liabilities and equity $3,050   $2,125

Income Statements:
2013 2012
Sales $2,200   $1,500
Operating costs excluding depreciation 1,250   1,000
EBITDA $950   $500
Depreciation and amortization 100   75
EBIT $850   $425
Interest 62   45
EBT $788   $380
Taxes (40%) 315   152
Net income $473   $228
Dividends paid $53   $48
Addition to retained earnings $600   $180
Shares outstanding 100   100
Price $25.00   $22.50
WACC 10.00%

The balance in the firm's cash and equivalents account is neededfor operations and is not considered "excess" cash.
Using the financial statements given above, what is Rosnan's2013 free cash flow (FCF)? Use a minus sign to indicate a negativeFCF.

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Rosnan Industries' 2013 and 2012 balance sheets and incomestatements are shown below.Balance Sheets:20132012Cash and equivalents$100 $85 Accounts receivable275 300 Inventories375 250 Total current assets$750 $635 Net plant and equipment2,300 1,490 Total assets$3,050 $2,125 Accounts payable$150 $85 Accruals75 50 Notes payable150 75 Total currentliabilities$375 $210 Long-term debt450 290 Common stock1,225 1,225 Retained earnings1,000 400 Total liabilities and equity$3,050 $2,125 Income Statements:20132012Sales$2,200 $1,500 Operating costs excluding depreciation1,250 1,000 EBITDA$950 $500 Depreciation and amortization100 75 EBIT$850 $425 Interest62 45 EBT$788 $380 Taxes (40%)315 152 Net income$473 $228 Dividends paid$53 $48 Addition to retained earnings$600 $180 Shares outstanding100 100 Price$25.00 $22.50 WACC10.00% The balance in the firm's cash and equivalents account is neededfor operations and is not considered "excess" cash.Using the financial statements given above, what is Rosnan's2013 free cash flow (FCF)? Use a minus sign to indicate a negativeFCF.

Balance Sheets:
	2013	2012
Cash and equivalents	$100	$85
Accounts receivable	275	300
Inventories	375	250
Total current assets	$750	$635
Net plant and equipment	2,300	1,490
Total assets	$3,050	$2,125

Accounts payable	$150	$85
Accruals	75	50
Notes payable	150	75
Total currentliabilities	$375	$210
Long-term debt	450	290
Common stock	1,225	1,225
Retained earnings	1,000	400
Total liabilities and equity	$3,050	$2,125

Income Statements:
	2013	2012
Sales	$2,200	$1,500
Operating costs excluding depreciation	1,250	1,000
EBITDA	$950	$500
Depreciation and amortization	100	75
EBIT	$850	$425
Interest	62	45
EBT	$788	$380
Taxes (40%)	315	152
Net income	$473	$228

Dividends paid	$53	$48
Addition to retained earnings	$600	$180

Shares outstanding	100	100
Price	$25.00	$22.50
WACC	10.00%