Financial information for Mango Corporation is shown below: Mango Corporation Income Statements for the (millions of dollars) years ended Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest expense EBT Tax (30%) Net income Common dividends 2019 ($m) 2,400 2,040 360 60 300 43.4 256.6 77 179.6 146.6 2018 ($m) 2,000 1,700 300 50 250 40.4 209.6 62.9 146.7 92.7 Mango Corporation Balance Sheets as of 31 December (millions of dollars) 2019 ($m) 2018 ($m) Assets Cash Accounts receivable Inventories Total current assets Net plant and equipment Total assets 24 360 360 744 600 1,344 20 300 400 720 500 1,220 Liabilities and Equity Accounts payable Accruals Notes payable 144 134 180 120 103 1 Total current liabilities Long-term bonds Total liabilities Common stock (50 million shares) Retained earnings Total equity Total liabilities and equity 494 300 794 100 450 550 1,344 403 300 703 100 417 517 1,220 Required: 1. What was net operating working capital for 2018 and 2019? 2. What was the 2019 free cash flow? 3. How would you explain the large increase in 2019 dividends? (10 marks) (10 marks) (10 marks)