3-14 FREE CASH FLOW Bailey Corporation's financial statements (dollars and shares are in millions) are provided here. 2014 $ 14,000 30,000 28,125 $ 72,125 50,000 $122,125 $ 13,000 25,000 21,000 $ 59,000 47,000 $106,000 Balance Sheets as of December 31 2015 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable $ 10,800 Accruals 7,600 Notes payable 6,700 Total current liabilities $ 25,100 Long-term bonds 15,000 Total liabilities $ 40,100 Common stock (5,000 shares) 50,000 Retained earnings 32,025 Common equity $ 82.025 Total liabilities and equity $122.125 $ 9,000 6,000 5,150 $ 20,150 15,000 $ 35,150 50,000 20,850 $ 70,850 $106,000 Income Statement for Year Ending December 31, 2015 $214,000 Sales Operating costs excluding depreciation and 170,000 amortization EBITDA $ 44,000 Depreciation & amortization 5,000 EBIT $ 39,000 Interest 1,750 EBT $ 37,250 Taxes (40%) 14,900 Net income $ 22,350 Dividends paid $ 11,175 is 10% a. What was net operating working capital for 2014 and 2015? b. What was Bailey's 2015 free cash flow? c. Construct Bailey's 2015 statement of stockholders' equity. d. What was Bailey's 2015 EVA? Assume that its after-tax cost of capital e. What was Bailey's MVA at year-end 2015? Assume that its stock price at December 31, 2015 was $20. Additional Requirement: Prepare statement of Cash Flows for the Yerir 2015