2020 2020 2019 CURRENT ASSETS: Cash Marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Long-term investments Building & equipment (net) Land Intangibles (net) Total Assets $53,760 14,400 117,120 82,560 66,240 334,080 133,440 247,680 182,400 62,400 $960,000 Dolan Inc. 2019 CURRENT LIABILITIES: $28,080 Accounts payable 15,840 Accrued liabilities 131,760 Notes payable 82,080 Total current liabilities 31,680 Long-term bonds 289,440 Preferred stock 100,800 Common stock 106,560 Treasury stock 165,600 57,600 Retained earnings $720,000 Total liabilities & equity $61,440 172,800 48,000 282,240 211,200 43,200 280,742 (16,800) $56,880 151,200 38,160 246, 240 187,200 27,360 144,000 (16,800) 159,418 $960,000 132,000 $720,000 Net sales Cost of goods sold Gross margin Selling & administrative expenses Depreciation Earnings from operations Interest expense Earnings before income taxes Provision for income taxes (20.0%) Net earnings 2020 $864,000 509,538 354,462 241,846 12,933 99,683 14,000 85,683 17,137 $68,546 2019 $720,000 417,600 302,400 244,800 4,262 53,338 10,141 43,197 8,639 $34,558 You must show ALL calculations. No communication of any kind is allowed during the quiz. Rounding is not necessary. If you do, round to the second decimal place. The recent income statements and balance sheets of Dolan Inc. are as given. 1. Calculate the net operating profit after taxes for 2020. 2. Calculate the amounts of net operating working capital for 2020 and 2019. 3. Calculate the amounts of total net operating capital for 2020 and 2019. 4. Calculate the free cash flow for 2020. 5. Based on the information available in this question, briefly explain how the company distributed its free cash flow in 2020