A computer manufacturer has financial statements as follows:

Balance Sheets
Assets	2015		2016		2017 Estimated
Cash	$ 9,000		$ 7,282		$ 14,000
Short-Term Investments.	48,600		20,000		71,632
Accounts Receivable	351,200		632,160		878,000
Inventories	715,200		1,287,360		1,716,480
Total Current Assets	$ 1,124,000		$ 1,946,802		$ 2,680,112
Gross Fixed Assets	491,000		1,202,950		1,220,000
Less: Accumulated Depreciation	146,200		263,160		383,160
Net Fixed Assets	$ 344,800		$ 939,790		$ 836,840
Total Assets	$ 1,468,800		$ 2,886,592		$ 3,516,952
Liabilities And Equity	2015		2016		2017 Estimated
Accounts Payable	$ 145,600		$ 324,000		$ 359,800
Notes Payable	200,000		720,000		300,000
Accruals	136,000		284,960		380,000
Total Current Liabilities	$ 481,600		$ 1,328,960		$ 1,039,800
Long-Term Debt	323,432		1,000,000		500,000
Common Stock (100,000 Shares)	460,000		460,000		1,680,936
Retained Earnings	203,768		97,632		296,216
Total Equity	$ 663,768		$ 557,632		$ 1,977,152
Total Liabilities And Equity	$ 1,468,800		$ 2,886,592		$ 3,516,952

Income Statements
	2015		2016		2017E
Sales	$ 3,432,000		$ 5,834,400		$ 7,035,600
COGS except depr.	2,864,000		4,980,000		5,800,000
Depreciation	18,900		116,960		120,000
Other Expenses	340,000		720,000		612,960
Total Operating Costs	$ 3,222,900		$ 5,816,960		$ 6,532,960
EBIT	$ 209,100		$ 17,440		$ 502,640
Interest Expense	62,500		176,000		80,000
EBT	$ 146,600		$ (158,560)		$ 422,640
Taxes (40%)	58,640		(63,424)		169,056
Net Income	$ 87,960		$ (95,136)		$ 253,584
Other Data	2015		2016		2017E
Stock Price	$ 8.50		$ 6.00		$ 12.17
Shares Outstanding	100,000		100,000		250,000
EPS	$ 0.880		$ (0.951)		$ 1.014
DPS	$ 0.220		$ 0.110		$ 0.220
Tax Rate	40%		40%		40%
Book Value Per Share	$ 6.638		$ 5.576		$ 7.909
Lease Payments	$ 40,000		$ 40,000		$ 40,000

Statement of Cash Flows

2016

Operating activities
Net income			$ (95,136)
Adjustments:
noncash adjustments:
depreciation			116,960
changes in working capital:
change in accounts receivable			(280,960)
change in inventories			(572,160)
change in accounts payable			178,400
change in accruals			148,960
Net cash provided by operating activities			$ (503,936)
Investing activities
Cash used to acquire fixed assets			$ (711,950)
Cash due to change in short term investments			$ 28,600
Net cash provided by operating activities			$ (683,350)
Financing activities
change in notes payable			$ 520,000
change in long-term debt			$ 676,568
change in common stock			$ -
payment of cash dividends			$ (11,000)
Net cash provided by financing activities			$ 1,185,568
Summary
Net change in cash			$ (1,718)
Cash at beginning of year			9,000
Cash at end of year			$ 7,282

-What is free cash flow? Why is it important?

-What is the companys net operating profit after taxes in 2016 (NOPAT)?

-What are operating current assets? How much operating current assets does the company have in 2016?

-What are operating current liabilities? How much operating current liabilities does the company have in 2016?

-How much net operating working capital does the company have in 2016?

-How much total net operating capital does the company have in 2016?

-What is the companys return on invested capital (ROIC) in 2016?

-What is the companys EVA in 2016? It has a 10% cost of capital (WACC).

-What is the companys MVA in 2016?