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Need help Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2018 2017 Assets Cash
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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2018 2017 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets $ 13,000 35,000 33,500 $ 12,000 30,000 26,000 $ 68,000 49,000 $117,000 $ 81,500 54,000 $135,500 Liabilities and Equity Accounts payable $ 10,200 $ 9,000 Accruals 7,500 7,000 Notes payable 6,700 5,200 Total current liabilities $ 24,400 $ 21,200 Long-term bonds 10,000 10,000 Total liabilities $ 34,400 $ 31,200 Common stock (4,000 shares) 60,000 60,000 Retained earnings 41,100 25,800 Common equity $ 101,100 S 85,800 Total liabilities and equity $135,500 $117,000 Income Statement for Year Ending December 31, 2018 Sales $220,000 Operating costs excluding depreciation and amortization 170,000 EBITDA $ 50,000 Depreciation & amortization 5,000 EBIT $ 45,000 Interest 7,850 EBT $ 37,150 Taxes (40%) 14,860 Net income $ 22,290 Dividends paid 6,990 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary. a. What was net operating working capital for 2017 and 2018? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. 2017$ million 2018$ million b. What was Arlington's 2018 free cash flow? $ million Total Stockholders' Equity $ million c. Construct Arlington's 2018 statement of stockholders' equity. Statement of Stockholders' Equity, 2018 Common Stock Retained Shares Amount Earnings Balances, 12/31/17 million $ million million 2018 Net Income million Cash Dividends million Addition to retained earnings Balances, 12/31/18 million million million d. What was Arlington's 2018 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to two decimal places. million million S S S $ million e. What was Arlington's MVA at year-end 2018? Assume that its stock price at December 31, 2018 was $25. Round your answer to two decimal places. $ million
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