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Arlington Corporation's financial statements ( dollars and shares are in millions ) are provided here. Balance Sheets as of December 3 1 2 0 2

Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31
20212020
Assets
Cash and equivalents $ 14,000 $ 13,000
Accounts receivable 30,00025,000
Inventories 28,95023,000
Total current assets $ 72,950 $ 61,000
Net plant and equipment 50,00047,000
Total assets $122,950 $108,000
Liabilities and Equity
Accounts payable $ 10,800 $ 8,500
Accruals 7,9007,000
Notes payable 6,2005,400
Total current liabilities $ 24,900 $ 20,900
Long-term bonds 20,00020,000
Total liabilities $ 44,900 $ 40,900
Common stock (4,000 shares)40,00040,000
Retained earnings 38,05027,100
Common equity $ 78,050 $ 67,100
Total liabilities and equity $122,950 $108,000
Income Statement for Year Ending December 31,2021
Sales $220,000
Operating costs excluding depreciation and amortization 170,000
EBITDA $ 50,000
Depreciation & amortization 5,000
EBIT $ 45,000
Interest 5,000
EBT $ 40,000
Taxes (25%)10,000.00
Net income $30,000.00
Dividends paid $19,050.00
Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary.
What was net operating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes.
2020 $ million
2021 $ million
What was Arlington's 2021 free cash flow?
$ million
Construct Arlington's 2021 statement of stockholders' equity.
Statement of Stockholders' Equity, 2021
Common Stock Retained
Earnings Total Stockholders'
Equity
Shares Amount
Balances, 12/31/20 million $ million $ million $ million
2021 Net Income million
Cash Dividends million
Addition to retained earnings million
Balances, 12/31/21 million $ million $ million $ million
What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent.
$ million
What was Arlington's MVA at year-end 2021? Assume that its stock price at December 31,2021 was $25. Round your answer to the nearest cent.
$ million

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