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eBook Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2019 2018 Assets Cash and

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eBook Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents $ 15,000 $ 13,000 Accounts receivable 30,000 25,000 Inventories 29,670 23,000 Total current assets $ 74,670 $ 61,000 Net plant and equipment 50,000 48,000 Total assets $124,670 $109,000 Liabilities and Equity Accounts payable $ 11,000 $ 9,000 Accruals 7,000 7,000 Notes payable 6,500 5,300 Total current liabilities $ 24,500 $ 21,300 Long-term bonds 20,000 20,000 Total liabilities $ 44,500 $ 41,300 Common stock (4,000 shares) 50,000 50,000 Retained earnings 30,170 17,700 Common equity $ 80,170 $ 67,700 Total liabilities and equity $124,670 $109,000 Income Statement for Year Ending December 31, 2019 Sales $200,000 Operating costs excluding depreciation and amortization 150,000 EBITDA Depreciation & amortization $ 50,000 8,000 EBIT $ 42,000 Interest 2,900 EBT Taxes (25%) $ 39,100 9,775.00 Net income 29,325.00 Dividends paid 16,855.00 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000, Round your answers to the nearest whole number, if necessary. a. What was net operating working capital for 2018 and 2019? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. 2018$ 2019$ million million b. What was Arlington's 2019 free cash flow? million c. Construct Arlington's 2019 statement of stockholders' equity. Statement of Stockholders' Equity, 2019 Common Stock Shares Amount Balances, 12/31/18 million $ million $ million $ million 2019 Net Income million Cash Dividends million Addition to retained earnings million. Balances, 12/31/19 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. $ million e. What was Arlington's MVA at year-end 20197 Assume that its stock price at December 31, 2019 was $25. Round your answer to the nearest cent. S million Retained Earnings Total Stockholders' Equity

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