Free Cash Flows Rhodes Corporation Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales$1,250 0 $1,000 0Operating costs excluding depreciation1,000 0 850 0Depreciation and amortization35 0 30 0 Earnings before interest and taxes$215 0 $120 0Less Interest27 0 22 0 Pre tax income$188 0 $98 0Taxes (40 )75 2 39 2Net income available to common stockholders$112 8 $58 8Common dividends$102 0 $47 0 Rhodes Corporation Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash$20 0 $15 0Short term investments6 0 5 0Accounts receivable127 0 110 0Inventories231 0 210 0 Total current assets$384 0 $340 0Net plant and equipment345 0 300 0Total assets$729 0 $640 0 Liabilities and Equity Accounts payable$88 0 $70 0Accruals92 0 80 0Notes payable25 0 20 0 Total current liabilities$205 0 $170 0Long term debt250 0 200 0 Total liabilities$455 0 $370 0Common stock245 2 252 0Retained earnings28 8 18 0 Total common equity$274 0 $270 0Total liabilities and equity$729 0 $640 0 Using Rhodes Corporation's financial statements (shown above), answer the following questions What is the net operating profit after taxes (NOPAT) for 2018 Enter your answer in millions For example, an answer of $1 2 million should be entered as 1 2, not 1,200,000 Round your answer to one decimal place $ million What are the amounts of net operating working capital for both years Enter your answers in millions For example, an answer of $1 million should be entered as 1, not 1,000,000 Round your answers to the nearest whole number 2018 $ million 2017 $ million What are the amounts of total net operating capital for both years Enter your answers in millions For example, an answer of $1 million should be entered as 1, not 1,000,000 Round your answers to the nearest whole number 2018 $ million 2017 $ million What is the free cash flow for 2018 Enter your answer in millions For example, an answer of $1 2 million should be entered as 1 2, not 1,200,000 Cash outflow, if any, should be indicated by a minus sign Round your answer to one decimal place $ million What is the ROIC for 2018 Round your answer to two decimal places How much of the FCF did Rhodes use for each of the following purposes after tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short term investments ( Hint Remember that a net use can be negative ) Enter your answer in millions For example, an answer of $1 2 million should be entered as 1 2, not 1,200,000 Round your answers to one decimal place After tax interest payment$ millionReduction (increase) in debt$ millionPayment of dividends$ millionRepurchase (Issue) stock$ millionPurchase (Sale) of short term investments$ million

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Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales$1,250.0 $1,000.0Operating costs excluding depreciation1,000.0 850.0Depreciation and amortization35.0

Free Cash Flows

Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars)

2018 2017Sales$1,250.0 $1,000.0Operating costs excluding depreciation1,000.0 850.0Depreciation and amortization35.0 30.0 Earnings before interest and taxes$215.0 $120.0Less Interest27.0 22.0 Pre-tax income$188.0 $98.0Taxes (40%)75.2 39.2Net income available to common stockholders$112.8 $58.8Common dividends$102.0 $47.0

Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)

2018 2017AssetsCash$20.0 $15.0Short-term investments6.0 5.0Accounts receivable127.0 110.0Inventories231.0 210.0 Total current assets$384.0 $340.0Net plant and equipment345.0 300.0Total assets$729.0 $640.0Liabilities and EquityAccounts payable$88.0 $70.0Accruals92.0 80.0Notes payable25.0 20.0 Total current liabilities$205.0 $170.0Long-term debt250.0 200.0 Total liabilities$455.0 $370.0Common stock245.2 252.0Retained earnings28.8 18.0 Total common equity$274.0 $270.0Total liabilities and equity$729.0 $640.0

Using Rhodes Corporation's financial statements (shown above), answer the following questions.

What is the net operating profit after taxes (NOPAT) for 2018? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to one decimal place. $ million
What are the amounts of net operating working capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2018: $ million 2017: $ million
What are the amounts of total net operating capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2018: $ million 2017: $ million
What is the free cash flow for 2018? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to one decimal place. $ million
What is the ROIC for 2018? Round your answer to two decimal places. %
How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place.

After-tax interest payment$ millionReduction (increase) in debt$ millionPayment of dividends$ millionRepurchase (Issue) stock$ millionPurchase (Sale) of short-term investments$ million