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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31 | |||
2019 | 2018 | ||
Assets | |||
Cash and equivalents | $ 15,000 | $ 13,000 | |
Accounts receivable | 35,000 | 30,000 | |
Inventories | 31,025 | 29,000 | |
Total current assets | $ 81,025 | $ 72,000 | |
Net plant and equipment | 50,000 | 49,000 | |
Total assets | $131,025 | $121,000 | |
Liabilities and Equity | |||
Accounts payable | $ 10,600 | $ 9,000 | |
Accruals | 7,400 | 6,000 | |
Notes payable | 6,200 | 5,300 | |
Total current liabilities | $ 24,200 | $ 20,300 | |
Long-term bonds | 20,000 | 20,000 | |
Total liabilities | $ 44,200 | $ 40,300 | |
Common stock (4,000 shares) | 60,000 | 60,000 | |
Retained earnings | 26,825 | 20,700 | |
Common equity | $ 86,825 | $ 80,700 | |
Total liabilities and equity | $131,025 | $121,000 |
Income Statement for Year Ending December 31, 2019 | |
Sales | $240,000 |
Operating costs excluding depreciation and amortization | 190,000 |
EBITDA | $ 50,000 |
Depreciation & amortization | 7,000 |
EBIT | $ 43,000 |
Interest | 5,350 |
EBT | $ 37,650 |
Taxes (25%) | 9,412.50 |
Net income | $ 28,237.50 |
Dividends paid | 22,112.50 |
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 2018 and 2019? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes.
2018 | $ million |
2019 | $ million |
What was Arlington's 2019 free cash flow?
$ million
Construct Arlington's 2019 statement of stockholders' equity.
Statement of Stockholders' Equity, 2019 | |||||
Common Stock | Retained Earnings | Total Stockholders' Equity | |||
Shares | Amount | ||||
Balances, 12/31/18 | million | $ million | $ million | $ million | |
2019 Net Income | million | ||||
Cash Dividends | million | ||||
Addition to retained earnings | million | ||||
Balances, 12/31/19 | million | $ million | $ million | $ million |
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