Rhodes Corporation$$s financial statements are shown below.

Rhodes Corporation: Income Statements for Year Ending December $31$

$($Millions of Dollars$)$

$20202019$

Sales $ $11,000$ $ $10,000$

Operating costs excluding depreciation $9,5268,648$

Depreciation and amortization $390360$

Earnings before interest and taxes $ $1,084$ $ $992$

Less interest $280200$

Pre$-$tax income $ $804$ $ $792$

Taxes $(25\%)201198$

Net income available to common stockholders $ $603$ $ $594$

Common dividends $ $204$ $ $200$

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

$20202019$

Assets

Cash $ $550$ $ $500$

Short$-$term investments $220200$

Accounts receivable $2,7502,500$

Inventories $1,8501,700$

Total current assets $ $5,370$ $ $4,900$

Net plant and equipment $3,8503,500$

Total assets $ $9,220$ $ $8,400$

Liabilities and Equity

Accounts payable $ $1,100$ $ $1,000$

Accruals $550500$

Notes payable $182100$

Total current liabilities $ $1,832$ $ $1,600$

Long$-$term debt $1,1001,000$

Total liabilities $ $2,9322,600$

Common stock $4,6894,600$

Retained earnings $1,5991,200$

Total common equity $ $6,288$ $ $5,800$

Total liabilities and equity $ $9,220$ $ $8,400$

Suppose the federal$-$plus$-$state tax corporate tax is $25\%.$ Answer the following questions.

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.

$

$813$

million

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.

$2020$: $

$3500$

million

$2019$: $

$3200$

million

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.

$2020$: $

$7350$

million

$2019$: $

$6700$

million

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.

$

$175$

million

What is the ROIC for $2020?$ Round your answer to two decimal places.

$10\mathrm{.}24$

$\%$

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 $

$280$

million

Reduction $($increase$)$ in debt $

$-82$

million

Payment of dividends $

$204$

million

Repurchase $($Issue$)$ stock $

$0$

million

Purchase $($Sale$)$ of short$-$term investments $

$-45$

million