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 | | $ 14,000 | Accounts receivable | 30,000 | | 25,000 | Inventories | 26,870 | | 22,000 | Total current assets | $ 71,870 | | $ 61,000 | Net plant and equipment | 50,000 | | 45,000 | Total assets | $121,870 | | $106,000 | | Liabilities and Equity | | Accounts payable | $ 10,400 | | $ 9,500 | Accruals | 7,300 | | 7,000 | Notes payable | 6,000 | | 5,400 | Total current liabilities | $ 23,700 | | $ 21,900 | Long-term bonds | 20,000 | | 20,000 | Total liabilities | $ 43,700 | | $ 41,900 | Common stock (4,000 shares) | 40,000 | | 40,000 | Retained earnings | 38,170 | | 24,100 | Common equity | $ 78,170 | | $ 64,100 | Total liabilities and equity | $121,870 | | $106,000 | Income Statement for Year Ending December 31, 2019 | Sales | $213,000 | Operating costs excluding depreciation and amortization | 160,000 | EBITDA | $ 53,000 | Depreciation & amortization | 8,000 | EBIT | $ 45,000 | Interest | 9,750 | EBT | $ 35,250 | Taxes (25%) | 8,812.50 | Net income | $ 26,437.50 | Dividends paid | 12,367.50 | 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 | -
What was Arlington's 2019 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 2019? Assume that its stock price at December 31, 2019 was $25. Round your answer to the nearest cent. $ million |