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I have done something incorrectly, please explain the calculations. Problem 2-12 Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of
I have done something incorrectly, please explain the calculations.
Problem 2-12 Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2015 $1,650.0 $1,500.0 1,275.0 33.0 S192.0 32.0 $160.0 54.0 $96.0 $77.0 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2015 2016 Sales Operating costs excluding depreciation Depreciation and amortization 1,238.0 40.0 S372.0 35.0 $337.0 134.8 $202.2 $182.0 Earnings before interest and taxes Less Interest Pre-tax income Taxes (40%) Net income available to common stockholders Common dividends 2016 Assets Cash $23.0 9.0 252.0 312.0 $596.0 396.0 $992.0 $18.0 8.0 210.0 240.0 $476.0 330.0 5806.0 Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable $116.0 104.0 33.0 $253.0 330.0 $583.0 359.8 49.2 $409.0 $992.0 $105.0 90.0 30.0 $225.0 300.0 $525.0 252.0 29.0 $281.0 $806.0 Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity Using Rhodes Corporation's financial statements (shown above), answer the following questions
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