MINDTAP elopment of Financial Statements and Free Cash Flow FREE CASH FLOW Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2016 2015 Assets Cash and equivalents $ 14,000 $ 11,000 Accounts receivable 35,000 30,000 Inventories 32,815 26,000 Total current assets $ 81,815 $ 67,000 Net plant and equipment 48,000 47,000 Total assets $129,815 $114,000 Liabilities and Equity MINDTAP a Search welopment of Financial Statements and Free Cash Flow Liabilities and Equity Accounts payable $ 10,500 $ 8,500 Accruals 8,000 7,000 Notes payable 6,800 5,200 Total current liabilities $ 25,300 $ 20,700 Long-term bonds 10,000 10,000 Total liabilities $ 35,300 $ 30,700 Common stock (4,000 shares) 50,000 50,000 Retained earnings 44,515 33,300 Common equity $ 94,515 $ 83,300 Total liabilities and equity $129,815 $114,000 Income Statement for Year Ending December 31, 2016 Sales $247,000 Operating costs excluding depreciation and amortization 200,000 EBITDA $ 47,000 JAN 1212 velopment of Financial Statements and Free Cash Flow Income Statement for Year Ending December 31, 2016 Sales $247,000 Operating costs excluding depreciation and amortization 200,000 EBITDA $ 47,000 Depreciation & amortization 8,000 EBIT $ 39,000 Interest 2,050 EBT Taxes (40%) $ 36,950 14,780 Net income $ 22,170 Dividends pald Enter your answers in millions. For example, an answer of 475 ann an 10,955 opment of Financial Statements and Free Cash Flow Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000 a. What was net operating working capital for 2015 and 2016? 2015 $ 111,315 million 2016 $ million b. What was Arlington's 2016 free cash flow? $ million c. Construct Arlington's 2016 statement of stockholders' equity. Common Stock Retained Earnings Shares Amount Balances, 12/31/15 million $ million $ min 2016 Net Income x mon Cash Dividends million Addition to retained earnings 1212 21 W g MacBook $ 4. 5 6 7 8 0 P 815 -( 25,300