Problem:
During 2010, Jennifer Industries reported cash provided by operations of $230,000,000, cash used in investing of $343,000,000, and cash used in financing of $45,000,000. In addition, cash spent for fixed assets during the period was $138,000,000. Average current liabilities were $325,000,000 and average total liabilities were $858,000,000. No dividends were paid.
Required:
Question: Based on this information, what was Jennifer's free cash flow?
- $92,000,000
- ($1,113,000)
- $480,000,000
- ($296,000,000)
Note: Provide support for your rationale.