Balance Sheets as of December 31 2019 2018 Assets $ 15,000 $ 13,000 Cash and equivalents Accounts receivable 30,000 25,000 23,000 Inventories 29,460 Total current assets $ 74,460 $ 61,000 Net plant and equipment 50,000 46,000 Total assets $124,460 $107.000 Liabilities and Equity Accounts payable $ 10,300 $ 8,000 Accruals 7,800 7,000 6,500 5,200 Notes payable Total current liabilities Long-term bonds $ 24,600 $ 20,200 15,000 15,000 $ 35,200 $ 39,600 60,000 60,000 Total liabilities Common stock (4,000 shares) Retained earnings Common equity Total liabilities and equity 24,860 11,800 $ 84,860 $ 71,800 $124,460 $107.000 Income Statement for Year Ending December 31, 2019 Sales $222,000 Operating costs excluding depreciation and amortization 170,000 $ 52,000 EBITDA Depreciation & amortization 8,000 EBIT $ 44,000 Interest 6,550 EBT $ 37,450 Taxes (25%) 9,362.50 Net income $ 28,087.50 Dividends paid 15,027.50 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. a. 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 b. What was Arlington's 2019 free cash flow? 5 million C. Construct Arlington's 2019 statement of stockholders' equity. Statement of Stockholders' Equity, 2019 Common Stock Retained Shares Earnings Amount Balances, 12/31/18 millions millions Total Stockholders' Equity million $ million 2019 Net Income million Cash Dividends million Addition to retained earings million Balances, 12/31/19 millions millions million $ million d. What was Arlington's 2019 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. s million e. 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