Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2022 2021 $13,000 $11,000 11,540 9,710 380 330 $ 1,080 960 - 120 100 960 860 240 215 $ 720 $ 645 Common dividends $ 201 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2022 2021 Sales Operating costs excluding depreciation Depreciation and amortization Earnings before interest and taxes Less interest Pre-tax income Taxes (25%) Net income available to common stockholders Assets Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings $ Total common equity $ 650 120 2,750 2,050 $5,570 3,850 $9,420 $1,300 650. 184 $ $ $2,134 1,300 $3,434 4,667 1,319 $5,986 Total liabilities and equity $9,420 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions $ 600 100 2,500 1,800 $5,000 3,500 $8,500 $1,200 600 100 $1,900 1,200 3,100 4,600 800 $5,400 $8,500 a. What is the net operating profit after taxes (NOPAT) for 2022? 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. 2022: $ million 2021: $ 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. 2022: $ million 2021: $ million d. What is the free cash flow for 20227 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 2022? 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 Reduction (increase) in debt Payment of dividends Repurchase (Issue) stock Purchase (Sale) of short-term investments. $ $ $ $ $ million million million million million
