Using Rhodes Corporations financial statements (shown below), answer the following question.

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? (Remember that a net use can be negative)

SHOW WORK AND HOW TO DO IT!

Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 Sales $11,000 -Operating costs excluding depreciation 9,612 Depreciation and amortization 380 , Earnings before interest and taxes $ 1,008 Less interest 120 Pre-tax income $ 888 Taxes (25%) Net income available to common stockholders $ 666 Common dividends $ 202 2019 $10,000 8,728 360 $ 912 100 $ 812 203 $ 609 $ 200 222 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 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 3,850 $8,910 $ 500 100 2,500 1,500 $4,600 3,500 $8,100 $1,000 500 200 $1,700 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities Long-term debt Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity 1,000 $1,100 550 384 $2,034 1,100 $3,134 4,312 1,464 $5,776 $8,910 $2,700 4,400 1,000 $5,400 $8,100