Usingthe financial statements shown below, calculate net operatingworking capital, total net operating capital, net operating profitafter taxes, free cash flow, and return on invested capital for themost recent year.
Lan & Chen Technologies:Income Statements for Year Ending December 31
(Thousands ofDollars)				2013	2012
Sales				$945,000	$900,000
Expenses excludingdepreciation and amortization				812,700	774,000
EBITDA				$132,300	$126,000
Depreciation andamortization				33,100	31,500
EBIT				$99,200	$94,500
Interest Expense				10,470	8,600
EBT				$88,730	$85,900
Taxes (40%)				35,492	34,360
Net income				$53,238	$51,540
Common dividends				$43,300	$41,230
Addition to retainedearnings				$9,938	$10,310
Lan & Chen Technologies:December 31 Balance Sheets
(Thousands of Dollars)
Assets				2013	2012
Cash and cash equivalents				$47,250	$45,000
Short-term investments				3,800	3,600
Accounts Receivable				283,500	270,000
Inventories				141,750	135,000
Total currentassets				$476,300	$453,600
Net fixed assets				330,750	315,000
Total assets				$807,050	$768,600
Liabilities and equity
Accounts payable				$94,500	$90,000
Accruals				47,250	45,000
Notes payable				26,262	9,000
Total currentliabilities				$168,012	$144,000
Long-term debt				94,500	90,000
Total liabilities				$262,512	$234,000
Common stock				444,600	444,600
Retained Earnings				99,938	90,000
Total commonequity				$544,538	$534,600
Total liabilities andequity				$807,050	$768,600
Key Input Data
Tax rate				40%
Net operating workingcapital
2013	NOWC =	Operating current assets	-	Operating current liabilities
2013	NOWC =		-
2013	NOWC =
2012	NOWC =	Operating current assets	-	Operating current liabilities
2012	NOWC =		-
2012	NOWC =
Total net operatingcapital
2013	TOC =	NOWC	+	Fixed assets
2013	TOC =		+
2013	TOC =
2012	TOC =	NOWC	+	Fixed assets
2012	TOC =		+
2012	TOC =
Investment in total netoperating capital
		2013		2012
2013	Inv. In TOC =	TOC	-	TOC
2013	Inv. In TOC =		-
2013	Inv. In TOC =
Net operating profit aftertaxes
2013	NOPAT =	EBIT	x	( 1 - T )
2013	NOPAT =		x
2013	NOPAT =
Free cash flow
2013	FCF =	NOPAT	-	Net investment in operating capital
2013	FCF =		-
2013	FCF =
Return on investedcapital
2013	ROIC =	NOPAT	/	Total net operating capital
2013	ROIC =		/
2013	ROIC =
Assume that there were 15 million shares outstanding at the endof the year, the year-end closing stock price was $65 per share,and the after-tax cost of capital was 8%. Calculate EVA and MVA forthe most recent year.
							Additional Input Data
Stock price per share		$65.00
# of shares (inthousands)		15,000
After-tax cost of capital		8.0%
Market Value Added
MVA =	Stock price	x	# of shares	-	Total common equity
MVA =		x		-
MVA =				-
MVA =
Economic Value Added
EVA =	NOPAT	-	(Operating Capital	x	After-tax cost of capital)
EVA =		-		x
EVA =		-
EVA =