Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $ 13,000 $11,000 Operating costs excluding depreciation 11,570 9,670 Depreciation and amortization 430 390 Earnings before interest and taxes $ 1,000 $ 940 Less Interest 160 100 Pre-tax Income $ 840 $ 840 Taxes (25%) 210 210 Net Income available to common stockholders $ 630 $ 630 Common dividends $ 202 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 450 $ 400 130 100 Short-term investments Accounts receivable Inventories Total current assets 2,750 1,250 $4,580 3,750 $ 8,330 2,500 1,200 $4,200 3,500 Net plant and equipment Total assets $ 7,700 Liabilities and Equity 450 abilities and Equity Accounts payable $ 900 $ 800 Accruals 400 Notes payable 182 100 Total current liabilities $1,532 $1,300 Long-term debt 900 800 Total liabilities $2,432 2,100 Common stock 4,270 4,400 Retained earnings 1,628 1,200 Total common equity $5,898 $5,600 Total liabilities and equity $8,330 $7,700 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. 5. What is the net operating profit after taxes (NOPAT) for 2020? Enter your answer in milions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number million b. 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, 2020: $ million 2019: $ million c. 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. 2020: $ million 2019: $ million d. What is the free cash flow for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest whole number million b. What are the amounts of net operating working capital for both years? Enter your answers in milions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: $ million 2019: $ million c. 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. 2020: $ million 2019: $ million d. What is the free cash flow for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest whole number. million e. What is the ROIC for 20207 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 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 After-tax interest payment million Reduction (increase) in debt $ $ million Payment of dividends $ million $ million Repurchase (Issue) stock Purchase (Sale) of short-term investments $ million Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $13,000 $ 11,000 Operating costs excluding depreciation 11, svo 9,670 Depreciation and amortization 430 390 Earnings before interest and taxes $ 1,000 $ 940 Less interest 160 100 Pre-tax Income $ 840 $ 840 Taxes (25%) 210 210 Net income available to common stockholders 630 $ 630 Common dividends $ 202 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) $ 2020 2019
