Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2022 2021 Sales $13,000 $11,000 Operating costs excluding depreciation 11,598 9,762 Depreciation and amortization 330 310 Earnings before interest and taxes $ 1,072 $ 928 Less interest 240 200 Pre-tax income Taxes (25%) Net income available to common stockholders $ 832 $ 728 208 182 $ 624 $ 546 Common dividends Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 202 $ 200 2022 2021 Assets Cash $ 450 $ 400 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,750 1,500 Total current assets $5,060 $4,500 Net plant and equipment 3,750 3,500 Total assets $8,810 $8,000 Liabilities and Equity Accounts payable $ 900 $ 800 Accruals 450 400 Notes payable Total current liabilities Long-term debt 384 200 $1,734 $1,400 900 800 Total liabilities Common stock $2,634 2,200 4,854 4,900 Retained earnings 1,322 900 Total common equity $6,176 $5,800 Total liabilities and equity $8,810 $8,000