Free Cash Flow

Bailey Corporation's financial statements (dollars and shares are in millions) are provided here.

Balance Sheets as of December 31
	2014		2013
Assets
Cash and equivalents	$ 15,000		$ 14,000
Accounts receivable	30,000		25,000
Inventories	29,835		24,000
Total current assets	$ 74,835		$ 63,000
Net plant and equipment	48,000		46,000
Total assets	$122,835		$109,000
Liabilities and Equity
Accounts payable	$ 11,000		$ 9,500
Notes payable	6,700		5,250
Accruals	7,600		7,000
Total current liabilities	$ 25,300		$ 21,750
Long-term bonds	15,000		15,000
Total debt	$ 40,300		$ 36,750
Common stock (5,000 shares)	40,000		40,000
Retained earnings	42,535		32,250
Common equity	$ 82,535		$ 72,250
Total assets	$122,835		$109,000

Income Statement for Year Ending December 31, 2014
Sales	$248,000
Operating costs excluding depreciation and amortization	200,000
EBITDA	$ 48,000
Depreciation & amortization	4,000
EBIT	$ 44,000
Interest	7,000
EBT	$ 37,000
Taxes (40%)	14,800
Net income	$ 22,200
Dividends paid	11,915

Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000.

What was net operating working capital for 2013 and 2014?

2013	$ million
2014	$ million

What was Bailey's 2014 free cash flow? $ million

Construct Bailey's 2014 statement of stockholders' equity.

	Common Stock		Retained Earnings	Total Stockholders' Equity
	Shares	Amount
Balances, 12/31/13	million	$ million	$ million	$ million
2014 Net Income			million
Cash Dividends			million
Addition (Subtraction) to retained earnings				million
Balances, 12/31/14	million	$ million	$ million	$ million

What was Bailey's 2014 EVA? Assume that its weighted average cost of capital is 10%. Round your answer to the nearest cent. $ million

What was Baileys MVA at year-end 2014? Assume that its stock price at December 31, 2014 was $20. $ million