2 Sales Operating costs excluding depreciation Depreciation and amortization Earnings before interest and taxes Less interest Pre-tax income 916 200 $ 716 179 $ 537 Common dividends $ 203 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) Taxes (25%) Net income available to common stockholders Assets Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities 2020 $13,000 11,562 410 $ 1,028 280 748 187 561 Common stock Retained earnings $ $ 2020 $550 210 2,750 1,250 $4,760 3,750 $8,510 $1,100 550 388 2019 $11,000 9,724 360 $2,038 1,100 2019 $ 500 200 2,500 1,200 $4,400 3,500 $7,900 $1,000 500 200 $1,700 1,000 2,700 4.500 700 $3,138 4,314 1,058 Total common equity $5,372 $5.200 $8.510 $7,900 Total liabi ties and equity Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 20207 Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number. million b. What are the amounts of net operating working capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: $ milion 2019: S million c. What are the amounts of total net operating capital for both years? Enter your answers in millions. For example, an answer of $1 mition should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: milion 2019: million d. What is the free cash flow for 20207 Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest whole number. $ million e. What is the ROIC for 2020? Round your answer to two decimal places. 1. How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. After-tax interest payment Reduction (increase) in debt Payment of dividends Repurchase (Issue) stock Purchase (Sale) of short-term investments $ million million million million million