MINDTAP work Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $ 12,000 10,614 $11,000 9,742 330 310 Operating costs excluding depreciation Depreciation and amortization Earnings before interest and taxes Less interest $ 1,056 $ 948 140 100 Pre-tax income $ 916 $ 848 : 229 212 Taxes (25%) Net income available to common stockholders $ 687 $ 636 Common dividends $ 201 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 550 $ 500 Short-term investments 230 200 Accounts receivable Inventories 2,750 1,750 $5,280 3,650 $8,930 2,500 1,600 $ 4,800 3,500 Total current assets Net plant and equipment Total assets $8,300 Liabilities and Equity Accounts payable $1,100 $1,000 550 00 Accruals 356 200 Notes payable $1,700 Total current liabilities $ 2,006 100 10 Long-term debt Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash 550 $ 500 Short-term investments 230 200 Accounts receivable 2,500 1,600 Inventories Total current assets 2,750 1,750 $5,280 3,650 $ 8,930 Net plant and equipment $4,800 3,500 $ 8,300 Total assets Liabilities and Equity Accounts payable $ 1,100 $1,000 Accruals 550 500 Notes payable 356 200 Total current liabilities $2,006 $ 1,700 Long-term debt 1,100 1,000 Total liabilities $3,106 2,700 Common stock 4,238 4,500 Retained earnings 1,586 1,100 Total common equity $5,824 $ 5,600 Total liabilities and equity $ 8,930 $ 8,300 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following question a. What is the net operating profit after taxes (NOPAT) for 2020? Enter your answer in entered as 1, not 1,000,000. Round your answer to the nearest whole number. $ 766 million b. What are the amounts of net operating working capital for both years? Enter your should be entered as 1, not 1,000,000. Round your answers to the nearest whole n. 2.300 million Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number 766 million b. What are the amounts of net operating working capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: $ 3,300 million 2019: $ 3,000 million c. What are the amounts of total net operating capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: $ 7,050 million 2019: $ 6,600 million d. What is the free cash flow for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest whole number. $ 79 million e. What is the ROIC for 2020? Round your answer to two decimal places. 1034 % f. How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Enter your answers in millions For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. After-tax interest payment $ 190 million $ Reduction (increase) in debt -262 million $ Payment of dividends 203.0 million $ 50 million Repurchase (Issue) stock $ 90 million Purchase (Sale) of short-term investments