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.

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

What was Arlington's $2021$ free cash flow?

$

million

Construct Arlington's $2021$ statement of stockholders' equity.

Statement of Stockholders' Equity, $2021$

Common Stock Retained

Earnings Total Stockholders'

Equity

Shares Amount

Balances, $12/31/20$

million $

million $

million $

million

$2021$ Net Income

million

Cash Dividends

million

Addition to retained earnings

million

Balances, $12/31/21$

million $

million $

million $

million

What was Arlington's $2021$ EVA? Assume that its after$-$tax cost of capital is $10\%.$ Round your answer to the nearest cent.

$

million

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.

$

millionCash and equivalents $ $12,000$ $ $11,000$

Accounts receivable $35,00030,000$

Inventories $30,82028,000$

Total current assets $ $77,820$ $ $69,000$

Net plant and equipment $53,00049,000$

Total assets $$130,820$ $$118,000$

Liabilities and Equity

Accounts payable $ $10,700$ $ $8,000$

Accruals $7,9007,000$

Notes payable $6,5005,150$

Total current liabilities $ $25,100$ $ $20,150$

Long$-$term bonds $15,00015,000$

Total liabilities $ $40,100$ $ $35,150$

Common stock $(4,000$ shares$)60,00060,000$

Retained earnings $30,72022,850$

Common equity $ $90,720$ $ $82,850$

Total liabilities and equity $$130,820$ $$118,000$

Income Statement for Year Ending December $31,2021$

Sales $$252,000$

Operating costs excluding depreciation and amortization $200,000$

EBITDA $ $52,000$

Depreciation & amortization $7,000$

EBIT $ $45,000$

Interest $5,500$

EBT $ $39,500$

Taxes $(25\%)9,875\mathrm{.}00$

Net income $$29,625\mathrm{.}00$

Dividends paid $$21,755\mathrm{.}00$