Vinny's Overhead Construction had free cash flow during 2012 of $25.4 million.
The change in gross fixed assets on Vinny's balance sheet during 2012 was $7.0 million and the change in net operating working capital was $8.4 million.
Using this information, fill in the blanks on Vinny's income statement below.
VINNY'S OVERHEAD CONSTRUCTION CORP.
Income Statement for Year Ending December 31, 2012
(in millions of dollars)
Net sales 182.10
Less: Cost of goods sold 116.10
Gross profits 66.00
Less: Depreciation 10.20
Other operating expenses 12.40
Earnings before interest and taxes (EBIT) 43.40
Less: Interest
Earnings before taxes (EBT) 43.40
Less: Taxes
Net income 27.64