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Begin with the partial model in the file Ch02 P21 Build a Model.xlsx on the textbook's Web site. a. Using the financial statements shown here

image text in transcribedimage text in transcribed Begin with the partial model in the file Ch02 P21 Build a Model.xlsx on the textbook's Web site. a. Using the financial statements shown here for Lan \& Chen Technologies, calculate net operating working capital, total net operating capital, net operating profit after taxes, free cash flow, and return on invested capital for 2020. The federal-plus-state tax rate is 25%. b. Assume there were 15 million shares outstanding at the end of 2019, the yearend closing stock price was $65 per share, and the after-tax cost of capital was 10\%. Calculate EVA and MVA for 2020. Lan \& Chen Technologies: Income Statements for Year Ending December 31 (Millions of Dollars) Lan \& Chen Technologies: December 31 Balance Sheets (Thousands of Dollars)

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