Please answer the following question:
eBook Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $11,000 $ 10,000 Operating costs excluding depreciation 9,570 8,692 Depreciation and amortization 370 340 Earnings before interest and taxes $ 1,060 $ 968 Less interest 140 100 Pre-tax income $ 920 $ 868 Taxes (25%) 230 217 Net income available to common stockholders $ 690 $ 651 Common dividends $ 205 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets $ 550 $ 500 230 Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment Total assets 2,750 1,350 200 2,500 1,200 $4,880 3,650 $8,530 $4,400 3,500 $ 7,900 $1,100 550 $1,000 500 192 100 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity $1,600 1,000 $ 1,842 1,100 $ 2,942 4,203 1,385 2,600 4,400 900 $5,588 $5,300 $ 7,900 $ 8,530 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. $ 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: $ million 2019: $ 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: $ million 2019: $ 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. $ million e. What is the ROIC for 2020? Round your answer to two decimal places. % 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 $ million Reduction (increase) in debt $ million Payment of dividends $ million Repurchase (Issue) stock $ million Purchase (Sale) of short-term investments $ million
