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Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) Sales 2020 $12,000 2019 $11,000

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Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) Sales 2020 $12,000 2019 $11,000 Operating costs excluding depreciation 10,500 9,654 Depreciation and amortization 360 350 Earnings before interest and taxes $ 1,140 $ 996 Less interest 120 100 Pre-tax income $ 1,020 $ 896 Taxes (25%) 255 224 Net income available to common stockholders Common dividends Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) $ 765 $ 672 $ 204 $ 200 2020 2019 Assets Cash $ 650 $ 600 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,750 1,600 Total current assets $5,260 $4,800 Net plant and equipment 3,650 3,500 Total assets $8,910 $8,300 Liabilities and Equity Accounts payable $1,300 $1,200 Accruals 650 600 Notes payable 192 100 Total current liabilities $2,142 $1,900 Long-term debt 1,300 1,200 Total liabilities $3,442 3,100 Common stock 3,907 4,200 Retained earnings Total common equity Total liabilities and equity 1,561 1,000 $5,468 $5,200 $ 8,910 $8,300 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. 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. $ 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. 2020: $ 2019: $ million 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. 2020: $ 2019: $ million million d. 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. $ million e. What is the ROIC for 2020? 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 $ million Reduction (increase) in debt $ million Payment of dividends $ million Repurchase (Issue) stock $ million Purchase (Sale) of short-term investments $ million

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