Quantitative Problem: Rosnan Industries' 2020 and 2019 balance sheets and income statements are shown below.
| Balance Sheets: | |||
| 2020 | 2019 | ||
| Assets | |||
| Cash and equivalents | $100 | $85 | |
| Accounts receivable | 275 | 300 | |
| Inventories | 375 | 250 | |
| Total current assets | $750 | $635 | |
| Net plant and equipment | 2,300 | 1,490 | |
| Total assets | $3,050 | $2,125 | |
| Liabilities and Equity | |||
| Accounts payable | $150 | $85 | |
| Accruals | 75 | 50 | |
| Notes payable | 150 | 75 | |
| Total current liabilities | $375 | $210 | |
| Long-term debt | 450 | 290 | |
| Total liabilities | $825 | $500 | |
| Common stock | 1,225 | 1,225 | |
| Retained earnings | 1,000 | 400 | |
| Total common equity | $2,225 | $1,625 | |
| Total liabilities and equity | $3,050 | $2,125 |
| Income Statements: | |||
| 2020 | 2019 | ||
| Sales | $2,345 | $1,565 | |
| Operating costs excluding depreciation | 1,250 | 1,000 | |
| EBITDA | $1,095 | $565 | |
| Depreciation and amortization | 100 | 75 | |
| EBIT | $995 | $490 | |
| Interest | 63 | 46 | |
| EBT | $932 | $444 | |
| Taxes (25%) | 233 | 111 | |
| Net income | $699 | $333 | |
| Dividends paid | $99 | $33 | |
| Addition to retained earnings | $600 | $300 | |
| Shares outstanding | 100 | 100 | |
| Price | $25.00 | $22.50 | |
| WACC | 10.00% |
The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash.
Using the financial statements given above, what is Rosnan's 2020 free cash flow (FCF)? Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest cent.