Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.

Balance Sheets as of December 31
	2021		2020
Assets
Cash and equivalents	$ 13,000		$ 12,000
Accounts receivable	35,000		30,000
Inventories	31,710		26,000
Total current assets	$ 79,710		$ 68,000
Net plant and equipment	49,000		45,000
Total assets	$128,710		$113,000
Liabilities and Equity
Accounts payable	$ 10,400		$ 9,500
Accruals	7,400		7,000
Notes payable	7,000		5,400
Total current liabilities	$ 24,800		$ 21,900
Long-term bonds	20,000		20,000
Total liabilities	$ 44,800		$ 41,900
Common stock (4,000 shares)	60,000		60,000
Retained earnings	23,910		11,100
Common equity	$ 83,910		$ 71,100
Total liabilities and equity	$128,710		$113,000

Income Statement for Year Ending December 31, 2021
Sales	$220,000
Operating costs excluding depreciation and amortization	170,000
EBITDA	$ 50,000
Depreciation & amortization	7,000
EBIT	$ 43,000
Interest	7,200
EBT	$ 35,800
Taxes (25%)	8,950.00
Net income	$26,850.00
Dividends paid	$14,040.00

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.

1. 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

2. What was Arlington's 2021 free cash flow?

   $ million

3. 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

Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary. a. What was net operating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. 2020$ 2021$ million million b. What was Arlington's 2021 free cash flow? $ million c. Construct Arlington's 2021 statement of stockholders' equity. Statement of Stockholders' Equity, 2021 Common Stock Retained Shares Amount Earnings Total Stockholders' Equity $ million Balances, 12/31/20 million $ million million 2021 Net Income million million million Cash Dividends Addition to retained earnings Balances, 12/31/21 million $ $ $ million million million d. What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. $ million e. 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