Using Rhodes Corporations financial statements (shown after part f), answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2018? b. What are the amounts of net operating working capital for both years? c. What are the amounts of total net operating capital for both years? d. What is the free cash flow for 2018? e. What is the ROIC for 2018? 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.) Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $11,000 $10,000 Operating costs excluding depreciation 9,360 8,500 Depreciation and amortization 380 360 Earnings before interest and taxes $ 1,260 $ 1,140 Less interest 120 100 Pre-tax income $ 1,140 $ 1,040 Taxes (40%) 456 416 Net income available to common stockholders $ 684 $ 624 Common dividends $ 220 $ 200 Continued... Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets Cash $ 550 $ 500 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,650 1,500 Total current assets $5,060 $4,600 Net plant and equipment 3,850 3,500 Total assets $ 8,910 $8,100 Liabilities and Equity Accounts payable $ 1,100 $1,000 Accruals 550 500 Notes payable 384 200 Total current liabilities $2,034 $1,700 Long-term debt 1,100 1,000 Total liabilities $3,134 $2,700 Common stock 4,312 4,400 Retained earnings 1,464 1,000 Total common equity $5,776 $5,400 Total liabilities and equity $8,910 $8,100