Balance Sheet as of December 31, 2019 and 2018 (in millions of dollars) Income Statement for the Years Ending December 31, 2019 and 2018 (in millions of dollars) 12/31/2019 12/31/2018 ASSETS 2019 2018 Assets Current Assets $ 450.00 $ $ Cash and equivalents Short-term investments Accounts Receivable Inventory Total $ 300.00 $ 100.00 $ 70.00 $ 920.00 $ 245.00 100.00 65.00 50.00 460.00 Net Sales Expenses (excl. depr./amortz.) EBITDA Depreciation and amortization EBIT (operating income) Less: Interest EBT Taxes NET INCOME Less: Common Stock Dividends Addition to Retained Earnings $ 4,400.00 $ 4,000.00 $ 2,772.00$ 2,600.00 $ 1,628.00 $ 1,400.00 $ 20.00 $ 20.00 $ 1,608.00 $ 1,380.00 $ 10.00 $ 12.00 $ 1,598.00 $ 1,368.00 $ 399.50 $ 342.00 $ 1,198.50 $ 1,026.00 $ 539.33 $ 461.70 $ 659.18 $ 564.30 $ $ Fixed Assets: Gross plant and equipment Accumulated depreciation Net plant and equipment Total assets $ 1,349.30 $ 1,349.30 $ 100.00 $ 80.00 $ 1,249.30 $ 1,269.30 $ 2,169.30 $ 1,729.30 10 10 $ Per share data Common shares (millions) Market price Earnings per share (EPS) Dividends per share Book value per share $ 234.50 $ 119.85$ 53.93 $ 177.35 $ 134.00 102.60 46.17 $ 12/31/2019 12/31/2018 LIABILITIES & EQUITY $ 111.43 $ Liabilities and Equity Current liabilities: Accounts payable Accruals Notes payable Total Additional data Tax Rate WACC 25.00% 8.0% 25.00% 8.0% $ 164.83 $ 26.00 $ 50.00 $ 240.83 $ 95.00 35,00 200.00 330.00 $ $ Long-term bonds $ 155.00 $ 285.00 Total Liabilites $ 395.83 $ 615.00 Common stock (20M shares) Retained Earnings Total Equity Total Liabilities and Equity $ 150.00 $ 150.00 $ 1,623.48S 964.30 $ 1,773.48 $ 1,114.30 $ 2,169.30 $ 1,729.30 Using the following Financial Statements, apply the five steps to FCF to calculate the 2019 FCF, and compute the 2019 ROIC, OP, CR, MVA, and EVA. You can use the sheet to perform the calculations but you must display the formulas used for the calculations. Then submit the link as your solutions. Otherwise you can handwrite and submit the calculations. Balance Sheet as of December 31, 2019 and 2018 (in millions of dollars) Income Statement for the Years Ending December 31, 2019 and 2018 (in millions of dollars) 12/31/2019 12/31/2018 ASSETS 2019 2018 Assets Current Assets $ 450.00 $ $ Cash and equivalents Short-term investments Accounts Receivable Inventory Total $ 300.00 $ 100.00 $ 70.00 $ 920.00 $ 245.00 100.00 65.00 50.00 460.00 Net Sales Expenses (excl. depr./amortz.) EBITDA Depreciation and amortization EBIT (operating income) Less: Interest EBT Taxes NET INCOME Less: Common Stock Dividends Addition to Retained Earnings $ 4,400.00 $ 4,000.00 $ 2,772.00$ 2,600.00 $ 1,628.00 $ 1,400.00 $ 20.00 $ 20.00 $ 1,608.00 $ 1,380.00 $ 10.00 $ 12.00 $ 1,598.00 $ 1,368.00 $ 399.50 $ 342.00 $ 1,198.50 $ 1,026.00 $ 539.33 $ 461.70 $ 659.18 $ 564.30 $ $ Fixed Assets: Gross plant and equipment Accumulated depreciation Net plant and equipment Total assets $ 1,349.30 $ 1,349.30 $ 100.00 $ 80.00 $ 1,249.30 $ 1,269.30 $ 2,169.30 $ 1,729.30 10 10 $ Per share data Common shares (millions) Market price Earnings per share (EPS) Dividends per share Book value per share $ 234.50 $ 119.85$ 53.93 $ 177.35 $ 134.00 102.60 46.17 $ 12/31/2019 12/31/2018 LIABILITIES & EQUITY $ 111.43 $ Liabilities and Equity Current liabilities: Accounts payable Accruals Notes payable Total Additional data Tax Rate WACC 25.00% 8.0% 25.00% 8.0% $ 164.83 $ 26.00 $ 50.00 $ 240.83 $ 95.00 35,00 200.00 330.00 $ $ Long-term bonds $ 155.00 $ 285.00 Total Liabilites $ 395.83 $ 615.00 Common stock (20M shares) Retained Earnings Total Equity Total Liabilities and Equity $ 150.00 $ 150.00 $ 1,623.48S 964.30 $ 1,773.48 $ 1,114.30 $ 2,169.30 $ 1,729.30 Using the following Financial Statements, apply the five steps to FCF to calculate the 2019 FCF, and compute the 2019 ROIC, OP, CR, MVA, and EVA. You can use the sheet to perform the calculations but you must display the formulas used for the calculations. Then submit the link as your solutions. Otherwise you can handwrite and submit the calculations
