单选题 An analyst gathers the following annual information ($millions) about a company that pays no dividends and has no debt:
net income
depreciation
loss on sale of equipment
decrease in accounts receivable
increase in inventories
increase in accounts payable
capital expenditures
proceeds from sale of stock 		45.8
18.2
1.6
4.2
3.4
2.5
7.3
8.5
The company"s annual free cash flow to equity ($millions) is closest to:
【正确答案】 C
【答案解析】[解析] 对于没有债务的公司而言，其权益自由现金流等于营业现金流(CFO)减去资本支出后的余额。
CFO=净收益+折旧+机器销售亏损+应收账款的减少金额-存货的增加金额+应付账款的增加金额=45.8+18.2+1.6+4.2-3.4+2.5=68.9(百万美元)
权益自由现金流=营业现金流(CFO)-资本支出=68.9-7.3=61.6(百万美元)
因此，本题的正确选项为C。