Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars) \begin{tabular}{lrr} & 2021 & 2020 \\ \hline Assets & & \\ Cash and equivalents & 13.0 & $12.0 \\ Accounts receivable & 143.0 & 130.0 \\ Inventories & 216.0 & 180.0 \\ Total current assets & $372.0 & $322.0 \\ Net plant and equipment & 240.0 & 200.0 \\ Total assets & $612.0 & $522.0 \\ Liabilities and Equity & & \\ Accounts payable & $96.0 & $80.0 \\ Accruals & 36.0 & 30.0 \\ Notes payable & 22.0 & 20.0 \\ Total current liabilities & $154.0 & $130.0 \\ Long-term bonds & 220.0 & 200.0 \\ Total liabilities & $374.0 & $330.0 \\ Common stock & 204.9 & 172.5 \\ Retained earnings & 33.1 & 19.5 \\ Common equity & $238.0 & $192.0 \\ Total liabilities and equity & $612.0 & $522.0 \\ \hline \end{tabular} White out your answers completely, For example, 25 miltion should be entered as 25,000,000. Round your answers to the nearest dollar, if necessary. Negative values, if any, should be indicated by a minus sogn. 3. What was net operating workang capital for 2020 and 2021 ? Assume the firm has no excess cash. 20201 is 20211,3 b. What was the 2021 free cothifiow? c. How would veu explan the laroe increase in 2071 dividends? L. The large increast in net income from 2020 to 2021 explains the large increase in 2021 dividends. It. The latue incieme in free cash flow from 2020 is 2021 explane the large increase in 7021 dividends. it. The large increrse in Eort from 2020 to 2021 ecoldina the large incoxese in 2021 dvidends