Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars)

	2016		2015
Sales	$4,400.0		$4,000.0
Operating costs excluding depreciation	3,740.0		3,400.0
Depreciation and amortization	135.0		108.0
Earnings before interest and taxes	$525.0		$492.0
Less Interest	95.0		86.0
Pre-tax income	$430.0		$406.0
Taxes (40%)	172.0		162.4
Net income available to common stockholders	$258.0		$243.6
Common dividends	$232.0		$195.0

Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)

	2016		2015
Assets
Cash	$67.0		$56.0
Short-term investments	22.0		20.0
Accounts receivable	750.0		600.0
Inventories	1,040.0		800.0
Total current assets	$1,879.0		$1,476.0
Net plant and equipment	1,350.0		1,080.0
Total assets	$3,229.0		$2,556.0
Liabilities and Equity
Accounts payable	$288.0		$240.0
Accruals	260.0		200.0
Notes payable	88.0		80.0
Total current liabilities	$636.0		$520.0
Long-term debt	880.0		800.0
Total liabilities	$1,516.0		$1,320.0
Common stock	1,614.0		1,163.0
Retained earnings	99.0		73.0
Total common equity	$1,713.0		$1,236.0
Total liabilities and equity	$3,229.0		$2,556.0

a. What is the net operating profit after taxes (NOPAT) for 2016? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to one decimal place. $ million

b.What are the amounts of net operating working capital for both years? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place. 2016 $ million 2015 $ million

c. What are the amounts of total net operating capital for both years? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place. 2016 $ million 2015 $ million

d. What is the free cash flow for 2016? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to one decimal place. $ million

1. What is the ROIC for 2016? Round your answer to two decimal places. %
2. 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 answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place.

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