Southeastern IT Systems has the following balance sheet and the income statement. Make sure the...
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Accounting
Southeastern IT Systems has the following balance sheet and the income statement. Make sure the unit is in million dollars.
(unit: $ in millions)
| Southeastern IT Systems Balance Sheets | |||||
|
| 2013 | 2014 |
| 2013 | 2014 |
| Cash | $1,000 | $1,200 | Accounts payable | $800 | $850 |
| Accounts receivable | 6,500 | 7,500 | Notes payable | 7,500 | 8,000 |
| Inventory | 1,500 | 2,000 | Current liabilities | 8,300 | 8,850 |
| Current assets | 9,000 | 10,700 | Long-term debt | 1,000 | 1,000 |
| Net fixed assets | 3,000 | 3,500 | Common equity | 500 | 500 |
|
|
|
| Retained earnings | 2,200 | 3,850 |
| Total Assets | $12,000 | $14,200 | Total Liabilities & Owners Equity | $12,000 | $14,200 |
| Income Statement | |
|
| 2014 |
| Net sales | $15,000 |
| Cost of goods sold | 10,000 |
| Depreciation | 700 |
| EBIT | 4,300 |
| Interest expenses | 400 |
| Taxable income | 3,900 |
| Taxes | 1,365 |
| Net income | $2,535 |
| Dividends | ( ) |
What is the free cash flow (FCF) or the cash flow from the assets for 2014?
| $1,285 | ||
| $2,350 | ||
| $3,635 | ||
| $4,835 |
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