work Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $ 12,000 $ 11,000 Operating costs excluding depreciation 10,594 9,734 Depreciation and amortization 330 310 Earnings before interest and taxes $ 1,076 $ 956 Less interest 280 200 Pre-tax income $ 796 756 Taxes (25%) 199 189 Net income available to common stockholders $ $ 567 Common dividends $ 204 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 450 $ 400 Short-term investments 230 Accounts receivable 200 2,750 2,500 597 index.html?deploymentid=59326324533412187919748283823&eISBN=9781337909686&id=996951 MINDTAP Q Sea vork Accounts receivable Inventories 2,500 2,750 1,550 1,300 Total current assets Net plant and equipment Total assets $ 4,980 3,650 $8,630 $4,400 3,500 $7.900 Liabilities and Equity Accounts payable 900 $ 800 Accruals 450 400 Notes payable 356 200 Total current liabilities $ 1,706 $ 1,400 Long-term debt 900 800 Total liabilities $2,606 2,200 Common stock 4,431 4,500 Retained earnings 1,593 1,200 Total common equity $6,024 $5,700 Total liabilities and equity $8,630 $ 7,900 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number. 807 million work b. What are the amounts of net operating working capital for both years? Enter your answers in millions. For example an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: 5 million 2019: $ million c. What are the amounts of total net operating capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: $ million 2019: $ million d. What is the free cash flow for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest whole number $ million e. What is the ROIC for 20207 Round your answer to two decimal places. % 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.) Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. After-tax interest payment Reduction (increase) in debt million million million Payment of dividends Repurchase (Issue) stock million 27 Wh (2) A work Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2020 2019 Sales $ 12,000 $ 11,000 Operating costs excluding depreciation 10,594 9,734 Depreciation and amortization 330 310 Earnings before interest and taxes $ 1,076 $ 956 Less interest 280 200 Pre-tax income $ 796 756 Taxes (25%) 199 189 Net income available to common stockholders $ $ 567 Common dividends $ 204 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 450 $ 400 Short-term investments 230 Accounts receivable 200 2,750 2,500 597 index.html?deploymentid=59326324533412187919748283823&eISBN=9781337909686&id=996951 MINDTAP Q Sea vork Accounts receivable Inventories 2,500 2,750 1,550 1,300 Total current assets Net plant and equipment Total assets $ 4,980 3,650 $8,630 $4,400 3,500 $7.900 Liabilities and Equity Accounts payable 900 $ 800 Accruals 450 400 Notes payable 356 200 Total current liabilities $ 1,706 $ 1,400 Long-term debt 900 800 Total liabilities $2,606 2,200 Common stock 4,431 4,500 Retained earnings 1,593 1,200 Total common equity $6,024 $5,700 Total liabilities and equity $8,630 $ 7,900 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answer to the nearest whole number. 807 million work b. What are the amounts of net operating working capital for both years? Enter your answers in millions. For example an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: 5 million 2019: $ million c. What are the amounts of total net operating capital for both years? Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. 2020: $ million 2019: $ million d. What is the free cash flow for 2020? Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Cash outflow, if any, should be indicated by a minus sign. Round your answer to the nearest whole number $ million e. What is the ROIC for 20207 Round your answer to two decimal places. % 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.) Enter your answers in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to the nearest whole number. After-tax interest payment Reduction (increase) in debt million million million Payment of dividends Repurchase (Issue) stock million 27 Wh (2) A