Question
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
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 $12,000 $11,000. Operating costs excluding depreciation 10,592 9,690 Depreciation and amortization 420 390 Earnings before interest and taxes 988 920 Less interest 160 100 Pre-tax income $ 828 $ 820 Taxes (25%) 207 205 Net income available to common stockholders $ 621 $ 615 Common dividends 203 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) Assets Cash Short-term investments 2020 2019 $ 450 $ 400 110 100
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