Crashburn Manufacturing Inc. Income Statements (millions of dollars)
	2018	2017
Sales	$12,000	$10,000
Operating costs excluding depreciation	$9,360	$8,500
Depreciation and amortization	$380	$360
Earnings before interest and taxes	$2,260	$1,140
Less interest	$120	$100
Pre-tax income	$2,140	$1,040
Taxes (40%)	$456	$416
Net income available to common shareholders	$1,684	$624
Dividends on common stock	$220	$200

Crashburn Manufacturing Inc. Balance Sheet (millions of dollars)
	2018	2017
Assets
Cash	$610	$500
Short-term investments	$110	$100
Accounts receivable	$2,750	$2,500
Inventories	$1,650	$1,500
Total current assets	$5,120	$4,600
Net plant and equipment	$3,850	$3,500
Total assets	$8,970	$8,100
Liabilities and equity
Accounts payable	$1,100	$1,000
Accruals	$550	$500
Notes payable	$384	$200
Total current liabilities	$2,034	$1,700
Long-term debt	$1,100	$1,000
Total liabilities	$3,134	$2,700
Common stock	$4,312	$4,400
Retained earnings	$1,464	$1,000
Total common equity	$5,776	$5,400
Total liabilities and equity	$8,910	$8,100

1) What is the net operating profit after taxes (NOPAT) (in millions) for 2018 for Crashburn Manufacturing Inc.?

Group of answer choices

$1,356

$875

$126

$2,450

2) What is the net operating working capital (NOWC) (in millions) for 2017 and 2018 for Crashburn Manufacturing Inc.?

Group of answer choices

$3,000 in 2017 and $3,360 in 2018

$3,100 in 2017 and $2,605 in 2018

$2,700 in 2017 and $3,100 in 2018

$3,004 in 2017 and $3,806 in 2018

3)What is the total net operating capital (in millions) for 2017 and 2018 for Crashburn Manufacturing Inc.?

Group of answer choices

$6,500 in 2017 and $7,210 in 2018

$5,500 in 2017 and $7,410 in 2018

$6,206 in 2017 and $6,800 in 2018

$6,890 in 2017 and $7,000 in 2018

4) What is the free cash flow (FCF) (in millions) for 2018 for Crashburn Manufacturing Inc.?

Group of answer choices

$646

-$780

$128

$355