Calculate free cash flow for 2017 for Monarch Textiles, Inc

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Calculate free cash flow for 2017 for Monarch Textiles, Inc., based on the financial information that follows. Assume that all current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2017. (Enter your answer in 1000s.) Monarch Textiles, Inc. ($ thousands) Income statement Selected balance sheet items 2017 2016 2017 Sales 1, 670 Current assets 490 685 Cost of sales 890 Net fixed assets 176 352 Operating expenses 195 Current liabilities 295 375 Depreciation 8B Interest expense 50 Earnings before taxes 447.00 Tax 178 .80 Net income 268.20