Using Rhodes Corporation’s financial statements (shown below), answer the following questions.

a. What is the net operating profit after taxes (NOPAT) for 2013?

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 2013?

e. What is the ROIC for 2013?

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?

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Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2013 Sales $11,000 2012 $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