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ebook Arlington Corporation's financial statements ( dollars and shares are in millions ) are provided h Balance Sheets as of December 3 1 2 0

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Arlington Corporation's financial statements (dollars and shares are in millions) are provided h
Balance Sheets as of December 31
2021
2020
\table[[Assets],[Cash and equivalents,$,15,000,$,14,000],[Accounts receivable,,35,000,,20,000],[Inventories,,30,810,,17,000],[Total current assets,,80,810,,51,000],[Net plant and equipment,,48,000,,46,000],[Total assets,,128,810,,$97,000
Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary.
a. What was net operating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes.
2020$ million
2021$ million
b. What was Arlington's 2021 free cash flow?
$ million
c. Consuruct Arlington's 2021 statement of stockholders' equity.
Statement of Stockholders' Equity, 2021
d. What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. $ million
e. What was Arlington's MVA at year-end 2021? Assume that its stock price at December 31,2021 was $25. Round your answer to the nearest cent.
$ million
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