Equity - EOC - Questoin 15 - Page 354

cipherap15

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When Finding FCFEo = NI + NCC - FC - WC + Net Borrowing
I used FCFEo = CFO - FC + Net borrowing and from the CF statement got CFO = 37450 + 10500 = 47950
Then FCFEo = 47950 + 4000 - 15000 = 36950
Why cant I do this? The FC and Net borrowing #’s are correct cause in the answer the use the first equation which has those same variables. What’s wrong with my equation and why cant I use CFO. On the exam I would’ve did this to make it easier
Thanks
 
Ignore above — You can – i just missed some numbers.
 
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