Balance Sheets as of December 31 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock (4,000 shares) Retained earnings Common equity Total liabilities and equity 2019 $13,000 30,000 27,810 $ 70,810 51,000 $121,810 $ 10,800 7,900 6,800 $ 25,500 15,000 $ 40,500 40,000 41,310 $ 81,310 $121,810 2018 $12,000 20,000 19,000 $ 51,000 48,000 $99,000 $ 8,500 7,000 5,500 $ 21,000 15,000 $ 36,000 40,000 23,000 $ 63,000 $99,000 Income Statement for Year Ending December 31, 2019 Sales Operating costs excluding depreciation and amortization EBITDA Depreciation & amortization EBIT Interest EBT Taxes (25%) Net income Dividends paid $238,000 190,000 $ 48,000 4,000 $ 44,000 7,950 $ 36,050 9,012.50 27,037.50 8,727.50 a. What was net operating working capital for 2018 and 20197 Assume that all cash is excess cash; ie, this cash is not needed for operating purposes. 20185 20195 million million b. What was Arlington's 2019 free cash flow? S million c. Construct Arlington's 2019 statement of stockholders' equity. Balances, 12/31/18 2019 Net Income Cash Dividends Addition to retained earnings Balances, 12/31/19 Shares Statement of Stockholders' Equity, 2019 Common Stock $ million Amount million $ Retained Earnings million milion million million $ 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. Total Stockholders Equity $ $ million million million 5 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 W2 (CH3) a. What was net operating working capital for 2018 and 2019? Assume that all cash is excess cash; ie, this cash is not needed for operating purposes. 20185 millon million 20195 b. What was Arlington's 2019 free cash flow? $ mubon c. Construct Arlington's 2019 statement of stockholders' equity. Balances, 12/31/18 2019 Net Income Cash Dividends million Shares Statement of Stockholders' Equity, 2019. Common Stock million million Amount million $ Retained Earnings Addition to retained earnings million million $ Balances, 12/31/19 $ d. What was Arlington's 2019 EVA? Assume that its after-tax cost of capital is 10%. Round your answer the nearest cent. million million million Total Stockholders Equity $ million $ million 5 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 million X
