free cash flow

Homework 02 (Ch03) Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2021 2020 Assets Cash and equivalents $ 15,000 $ 14,000 Accounts receivable 35,000 25,000 Inventories 30,585 23,000 Total current assets $ 80,585 $ 62,000 Net plant and equipment 50,000 48,000 Total assets $130,585 $110,000 Liabilities and Equity Accounts payable $ 10,300 $ 9,500 Accruals 7,100 5,000 Notes payable 6,100 5,000 Total current liabilities $ 23,500 $ 19,500 Long-term bonds 20,000 20,000 Total liabilities $ 43,500 $ 39,500 Common stock (4,000 shares) 50,000 50,000 Retained earnings 37,085 20,500 Common equity $ 87,085 $ 70,500 Total liabilities and equity $130,585 $110,000 X Income Statement for Year Ending December 31, 2021 Homework 02 (Ch03) Sales $240,000 Operating costs excluding depreciation and amortization 190,000 EBITDA $ 50,000 6,000 Depreciation & amortization EBIT $44,000 5,800 Interest EBT De $ 38,200 9,550.00 Taxes (25%) Net income $28,650.00 Dividends paid $12,065.00 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary. a. What was net perating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. 2020$ million million 20215 b. What was Arlington's 2021 free cash flow? million c. Construct Arlington's 2021 statement of stockholders' equity. hework 02 (Ch03) b. What was Arlington's 2021 free cash flow? $ million c. Construct Arlington's 2021 statement of stockholders' equity. Statement of Stockholders' Equity, 2021 Common Stock Shares Amount Balances, 12/31/20 millic million million $ $ million million 2021 Net Income Cash Dividends million millic Addition to retained earnings million million $ million millic Balances, 12/31/21 $ $ d. What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. S million e. What was Art an'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 Grade It Now Save & Continue Retained Earnings x Total Stockholders' Equity $