问题如下：
Based on Exhibit 1, Company A’s FCFE for the most recent year is closest to:
选项：
$6,126 million.
C.$7,126 million.
解释：
C is correct. FCFE for Company A for the most recent year is calculated as follows:
Net non-cash charges are found by adding depreciation to other non-cash expenses:
$500 million + $1,000 million = $1,500 million.
Investment in working capital is calculated by netting the increase in accounts receivable, the decrease in accounts payable, and the increase in other current liabilities:
$452 million $210 million + $540 million = $122 million (outflow).
Net borrowing repayment is calculated by netting the increase in notes payable and the decrease in long-term debt:
$25 million $1,500 million = $1,475 million (outflow).
这道小题和下道 小题的Investment in working计算对increase、decrease解释方法不完全一样，导致具体计算WC和放到整体公式里的时候，加减号总有些晕，还请老师统一讲解一下规则。感谢！
