The 2012 income statement for Egyptian Noise Blasters shows that depreciation expense is $80 million,...
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The 2012 income statement for Egyptian Noise Blasters shows that depreciation expense is $80 million, EBIT is $360 million, and taxes paid on EBIT are $121 million. At the end of the year, the balance of gross fixed assets was $650 million. The change in net operating working capital during the year was $70 million. Egyptians free cash flow for the year was $180 million. Calculate the beginning-of-year balance for gross fixed assets.(Enter your answer in millions of dollars.)
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