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Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2022 2021 Sales $ 11,000 $

Rhodes Corporation's financial statements are shown below.

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

2022 2021
Sales $ 11,000 $ 10,000
Operating costs excluding depreciation 9,490 8,634
Depreciation and amortization 390 370
Earnings before interest and taxes $ 1,120 $ 996
Less interest 120 100
Pre-tax income $ 1,000 $ 896
Taxes (25%) 250 224
Net income available to common stockholders $ 750 $ 672
Common dividends $ 205 $ 200

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

2022 2021
Assets
Cash $ 550 $ 500
Short-term investments 130 100
Accounts receivable 2,750 2,500
Inventories 1,750 1,500
Total current assets $ 5,180 $ 4,600
Net plant and equipment 3,750 3,500
Total assets $ 8,930 $ 8,100
Liabilities and Equity
Accounts payable $ 1,100 $ 1,000
Accruals 550 500
Notes payable 352 200
Total current liabilities $ 2,002 $ 1,700
Long-term debt 1,100 1,000
Total liabilities $ 3,102 2,700
Common stock 4,183 4,300
Retained earnings 1,645 1,100
Total common equity $ 5,828 $ 5,400
Total liabilities and equity $ 8,930 $ 8,100

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

  1. 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

  2. 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

  3. 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

  4. What is the free cash flow for 2022? 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

  5. What is the ROIC for 2022? Round your answer to two decimal places.

    %

  6. 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 $ million
    Reduction (increase) in debt $ million
    Payment of dividends $ million
    Repurchase (Issue) stock $ million
    Purchase (Sale) of short-term i

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