40C WS 420 Immersive Page Movement Show Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $12,000 $11,000 Operating costs excluding depreciation 10,512 Deprecation and amortization 380 Earnings before interest and taxes $ 1.058 $ 988 Less interest 140 100 Pre-tax income $ $ 388 Taxes (25%) 222 Net income available to common stockholders $ 696 $ 666 Common dividends 5 I 204 $ 200 Rhodes Corporation Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 bozos million 201915 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 20207 Round your answer to two decimal places Short-term investments Accounts receivable Inventores Total current assets Net plant and equipment Total assets $ 450 230 2,750 1,750 $5,180 3,650 $8.830 $ 400 200 2,500 1,600 54,700 3,500 $3.200 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 $ million Payment of dividends $ million Repurchase (Issue) stock $ million Purchase (Sale) of short-term investments $ million Labies and Equity Accounts payable $ 900 $ 800 Aconuals 450 400 Notes pavable 356 200 Total current liabilities $ 1,706 $1,400 Long-term debt 900 800 Total liabilities $ 2,606 2,200 Comenon stock 4,700 Retained earnings 1.792 1.300 Totalcommon equity $ 6,224 $6,000 Total abilities and equity $8,830 $8,200 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 2020? Enter your answer in millions. For cample, 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: 5 million 2019: $ million 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 988 Rhodes Corporation: Income Statements for Year Ending December 31 Millions of dollars) 2020 2019 Sales $ 12,000 $11,000 Operating costs excluding depreciation 10,512 9,632 Depreciation and amortization 420 380 Earnings before interest and taxes $ 1,068 $ Less interest 140 100) Pre-tax income $ 928 $ 888 Taxes (25%) 232 222 Net income available to common stockholders $ 696 $ 666 Common dividends 204 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars 2020 2019 Assets Cash $ 450 $ 400 Short-term investments 230 200 Accounts receivable 2,750 2,500 Inventories 1,750 1,600 Total current assets $ 5,180 $4,700 Net plant and equipment 3,650 3,500 Total assets $8,830 $ 8,200 Liabilities and Equity Accounts payable $ 900 $ 800 Accruals 450 400 Notes payable 356 200 Total current liabilities $ 1,706 $1,400 Long-term debt 900 800 Total liabilities $ 2,606 2,200 Common stock 4,432 4,700 Retained earnings 1,792 1,300 Total common equity $ 6,224 $6,000 Total liabilities and equity $ 8,830 $8,200 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 2020? 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: $ million 2019: $ million 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. S. RSA 2020: $ million 2019: $ million d. What is the free cash flow for 2020? 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. % 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 million Reduction (increase) in debt million Payment of dividends million Repurchase (Issue) stock million Purchase (Sale) of short-term investments million $ $ $ $ $