Power Paniner corpora uons income statements for Year Ending December 31 (Millions of Dollars) 2014 2013 Sales Operating costs excluding depreciation and amortization EBITDA Depreciation & amortization Earnings before interest and taxes (EBIT) Interest Earnings before taxes (EBT) Taxes (409) Net income 51.200.0 1.020,0 $ 1800 30.0 $ 150.0 21.7 $ 128,3 513 $ 77.0 $1.000.0 8500 $ 1500 250 $ 125.0 202 $ 1048 41.9 $ Common dividends $ 605 $46.4 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2013 2014 Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets 5 12.0 1800 180.0 $3720 300.0 $6720 $ 100 150.0 200.0 $360.0 250.0 $6100 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2014 2013 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term bonds Total liabilities Common stock (50 million shares) Retained earnings Common equity Total liabilities and equity $108.0 720 67.0 52470 150.0 $3970 SOLO 225.0 $275.0 5672.0 $ 0.0 600 515 5201.5 1500 $3515 50.0 2085 52585 SOTOO a. What was Powell Panther Corparation's (Balance sheet and Income Statement are given above) net operating working capital for 2013 and 2014? (10 Points) b. What was Powell Panther Corparation's the 2014 free cash flow? (20 Points) c. How much of the FCF did Powell Panther Corparation's use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (20 Points) (Show your solutions step by step)