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Problem 2-34 Free Cash Flow (LG-5) The 2021 income statement for Egyptian Noise Blasters shows that...

Problem 2-34 Free Cash Flow (LG-5)

The 2021 income statement for Egyptian Noise Blasters shows that depreciation expense is $83 million, NOPAT is $248 million. At the end of the year, the balance of gross fixed assets was $665 million. The change in net operating working capital during the year was $73 million. Egyptian’s free cash flow for the year was $195 million.

Calculate the beginning-of-year balance for gross fixed assets

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