rk Ch.3 Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents $ 15,000 $ 13,000 Accounts receivable 30,000 20,000 Inventories 27,500 16,000 Total current assets $ 72,500 000 Net plant and equipment 51,000 49,000 Total assets $123,500 $98,000 Liabilities and Equity Accounts payable $ 10,900 $ 8,500 Accruals 7,700 5,000 Notes payable 6,300 5,500 Total current liabilities $ 24,900 $ 19,000 15,000 15,000 Long-term bonds 3 Total liabilities $ 39,900 $ 34,000 40,000 40,000 Common stock (4,000 shares) 43,600 24,000 Retained earnings $ 83,600 $ 64,000 Common equity $123,500 $98,000 Total liabilities and equity Income Statement for Year Ending December 31, 2019 $246,0 Sales 0,000 Operating costs excluding depreciation and amortization $ 46,000 EBITDA 6,000 Depreciation & amortization $ 40,000 EBIT 3,450 Interest $ 36,550 EBT 9,137.50 Taxes (25%) $ 27,412.50 Net income o BE tornarch 13 Dividends paid 7,812.50 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary a. What was net operating working capital for 2018 and 2019? Assume that all cash is excess cash; 1.0., this cash is not needed for operating purposes. 2010 $ 42,825 million 2019 $ 38,100 million b. What was Arlington's 2019 free cash flow? $ 2,000 million C. Construct Arlington's 2019 statement of stockholders' equity. Statement of Stockholders' Equity, 2019 Common Stock Retained Earnings Shares Amount Total Stockholders' Equity Balances, 12/31/18 86,825 million million 50,000 36,825 million 4,000 26,813 million 2019 Net Income 16,088 milion Cash Dividends INDTAP Search this cours Statement of Stockholders' Equity, 2019 Common Stock Retained Earnings Total Stockholders' Equity Shares Amount Balances, 12/31/18 4,000 50,000 millions million $ 36,825 86,825 million million $ 2019 Net Income 26,813 million 16,088 million Cash Dividends 10,725 million Addition to retained earnings 97,550 million Balances, 12/31/19 4,000 million $ 50,000 million 49,550 millions d. What was Arlington's 2019 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. $ 16,130 million e. What was Arlington's MVA at year-end 2019? Assume that its stock price at December 31, 2019 was $25. Roy our answer to the nearest cent. 2,450 million rk Ch.3 Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents $ 15,000 $ 13,000 Accounts receivable 30,000 20,000 Inventories 27,500 16,000 Total current assets $ 72,500 000 Net plant and equipment 51,000 49,000 Total assets $123,500 $98,000 Liabilities and Equity Accounts payable $ 10,900 $ 8,500 Accruals 7,700 5,000 Notes payable 6,300 5,500 Total current liabilities $ 24,900 $ 19,000 15,000 15,000 Long-term bonds 3 Total liabilities $ 39,900 $ 34,000 40,000 40,000 Common stock (4,000 shares) 43,600 24,000 Retained earnings $ 83,600 $ 64,000 Common equity $123,500 $98,000 Total liabilities and equity Income Statement for Year Ending December 31, 2019 $246,0 Sales 0,000 Operating costs excluding depreciation and amortization $ 46,000 EBITDA 6,000 Depreciation & amortization $ 40,000 EBIT 3,450 Interest $ 36,550 EBT 9,137.50 Taxes (25%) $ 27,412.50 Net income o BE tornarch 13 Dividends paid 7,812.50 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary a. What was net operating working capital for 2018 and 2019? Assume that all cash is excess cash; 1.0., this cash is not needed for operating purposes. 2010 $ 42,825 million 2019 $ 38,100 million b. What was Arlington's 2019 free cash flow? $ 2,000 million C. Construct Arlington's 2019 statement of stockholders' equity. Statement of Stockholders' Equity, 2019 Common Stock Retained Earnings Shares Amount Total Stockholders' Equity Balances, 12/31/18 86,825 million million 50,000 36,825 million 4,000 26,813 million 2019 Net Income 16,088 milion Cash Dividends INDTAP Search this cours Statement of Stockholders' Equity, 2019 Common Stock Retained Earnings Total Stockholders' Equity Shares Amount Balances, 12/31/18 4,000 50,000 millions million $ 36,825 86,825 million million $ 2019 Net Income 26,813 million 16,088 million Cash Dividends 10,725 million Addition to retained earnings 97,550 million Balances, 12/31/19 4,000 million $ 50,000 million 49,550 millions d. What was Arlington's 2019 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. $ 16,130 million e. What was Arlington's MVA at year-end 2019? Assume that its stock price at December 31, 2019 was $25. Roy our answer to the nearest cent. 2,450 million