2021 Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2022 Sales $ 12,000 $10,000 Operating costs excluding depreciation 10,538 8,652 Depreciation and amortization 360 Earnings before interest and taxes $ 1,072 Less interest Pre-tax income $ Taxes (25%) Net income available to common stockholders 609 591 Common dividends $ 201 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of dollars) 390 $ 988 260 200 812 S 788 203 197 $ $ 2022 2021 $ 550 $ 500 230 200 2,750 Assets Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment Total assets 1,950 2,500 1,800 $5,000 3,500 $5,480 3,650 $9,130 $ 8,500 Liabilities and Equity Accounts payable $1,100 $1,000 Accruals 550 500 Notes payable 376 200 Total current liabilities $ 2,026 $ 1,700 Long-term debt 1,100 1,000 Total liabilities $ 3,126 2,700 Common stock 4,696 4,900 Retained earnings 1,308 900 Total common equity $6,004 $ 5,800 Total liabilities and equity $9,130 $ 8,500 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 2022? 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. $ 774 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. 2022: $ 3330 million 2021: $ X 3100 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 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2022: $ 7150 million 2021: $ 6600 million d. What is the free cash flow for 2022? 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. $ 224 million e. What is the ROIC for 2022? Round your answer to two decimal places. 10.83 % f. 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 - $ 165 million Reduction (increase) in debt $ -174 million Payment of dividends $ 203 million Repurchase (Issue) stock $ 0 million Purchase (Sale) of short-term investments $ 30 million