Rhodes Corporations financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars). please answer questions from a to f.
2019 Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 Sales $ 12,000 $ 10,000 Operating costs excluding depreciation 10,590 8,726 Depreciation and amortization 390 350 Earnings before interest and taxes $ 1,020 $ 924 Less interest 120 Pre-tax income 900 $ Taxes (25%) Net income available to common stockholders $ 675 618 Common dividends $ 205 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 100 S 824 225 206 $ 2020 2019 $ 500 100 Assets Cash Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment Total assets $ 550 110 2,750 1,650 $ 5,060 3,750 $8,810 2,500 1,600 $4,700 3,500 $ 8,200 550 500 Liabilities and Equity Accounts payable $ 1,100 $ 1,000 Accruals Notes payable 360 200 Total current liabilities $ 2,010 $1,700 Long-term debt 1,100 1,000 Total liabilities $3,110 2,700 Common stock 4,530 4,800 Retained earnings 1,170 700 Total common equity $ 5,700 $5,500 Total liabilities and equity $8,810 $8,200 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. $ 765 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: $ million million 2019: $ 3100 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: $ 7000 million 2019: $ 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: $ 7000 million 2019: $ 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 $ $ $
