Using Rhodes' Corporation's financial statements,

c. What are the amounts of total net operating capital for both years?

d. What is the free cash flow for 2013?

Sales	$10,400.0		$8,000.0
Operating costs excluding depreciation	8,840.0		6,800.0
Depreciation and amortization	210.0		168.0
Earnings before interest and taxes	$1,350.0		$1,032.0
Less: Interest	224.0		172.0
Pre-tax income	$1,126.0		$860.0
Taxes (40%)	450.4		344.0
Net income available to common stockholders	$675.6		$516.0
Common dividends	$608.0		$413.0

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

	2013		2012
Assets
Cash	$156.0		$120.0
Short-term investments	52.0		40.0
Accounts receivable	1,500.0		1,200.0
Inventories	1,500.0		1,200.0
Total current assets	$3,208.0		$2,560.0
Net plant and equipment	2,100.0		1,680.0
Total assets	$5,308.0		$4,240.0
Liabilities and Equity
Accounts payable	$600.0		$480.0
Accruals	900.0		720.0
Notes payable	208.0		160.0
Total current liabilities	$1,708.0		$1,360.0
Long-term bonds	2,080.0		1,600.0
Total liabilities	$3,788.0		$2,960.0
Common stock	1,297.4		1,125.0
Retained earnings	222.6		155.0
Total common equity	$1,520.0		$1,280.0
Total liabilities and equity	$5,308.0		$4,240.0