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Marshalls, Inc. 2022 Statement of comprehensive income (S in millions) Net sales $1,854 Less: Cost of goods sold 995 Less: Depreciation 180 Earnings before interest

Marshalls, Inc.

2022 Statement of comprehensive income

(S in millions)

Net sales

$1,854

Less: Cost of goods sold

995

Less: Depreciation

180

Earnings before interest and taxes

679

Less: Interest paid

80

Taxable income

599

Less: Taxes (20%)

119.8

Net income

$479

Addition to retained earnings

?

Dividends paid

?

Marshalls, Inc.

2021 and 2022 Statement of financial position

(S in millions)

2021

2022

2021

2022

Cash

$100

$121

Accounts payable

$400

$350

Accounts rec.

350

425 Notes payable

390

370

Inventory

440

410

Total

$790

$720

Total

$890

$956 Long-term debt

500

550

Net fixed assets

1,556

1,704 Common stock

600

580

Retained earnings

556

810

Total assets

$2,446

$2,660 Total liabilities

$2,446

$2,660

Calculate dividend paid and retained earning in 2022 Income Statement. What are the components of the Du Pont identity and ROE for the company? What is the Free Cash Flow of 2022? Use year-end 2022 values where appropriate.

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