The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOM

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The Following Table Shows An Abbreviated Income Statement And Balance Sheet For Quick Burger Corporation For 2019 Incom 1 (53.71 KiB) Viewed 24 times

The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2019. INCOME STATEMENT OF QUICK BURGER CORP., 2019 (Figures in $ millions) Net sales $ 27,572 Costs 17,574 Depreciation 1,407 Earnings before interest and taxes (EBIT) $ $ 8,591 Interest expense 522 Pretax income 8,069 Federal taxes (@21%) 1,694 Net income $ 6,375 Assets 2019 2018 $ 3,408 $ 3,408 $ 382 3,148 $ 3,530 Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets BALANCE SHEET OF QUICK BURGER CORP., 2019 (Figures in $ millions) 2019 2018 Liabilities and Shareholders' Equity Current liabilities $ 2,341 $ 2,341 Debt due for repayment 1,389 1,340 Accounts payable 127 122 Total current liabilities 1,094 621 $ 4,942 $ 4,424 Long-term debt $24,682 $22,840 Other long-term liabilities 2,809 2,658 Total liabilities 2,988 3,104 Total shareholders equity $35,421 $33,026 Total liabilities and shareholders' equity $ 13,638 3,062 $ 20,108 15,313 $ 35,421 $12,139 2,962 $18,631 14,395 $33,026 In 2019 Quick Burger had capital expenditures of $3,054. a. Calculate Quick Burger's free cash flow in 2019. (Enter your answer in millions.) Free cash flow million b. If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 21%.) (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Additional tav millinn