I need help answering D & E

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		$	10,000
Operating costs excluding depreciation		10,580			8,698
Depreciation and amortization		340			310
Earnings before interest and taxes	$	1,080		$	992
Less interest		220			200
Pre-tax income	$	860		$	792
Taxes (25%)		215			198
Net income available to common stockholders	$	645		$	594
Common dividends	$	201		$	200

Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars)

	2020		2019
Assets
Cash	$	650		$	600
Short-term investments		230			200
Accounts receivable		2,750			2,500
Inventories		1,550			1,300
Total current assets	$	5,180		$	4,600
Net plant and equipment		3,650			3,500
Total assets	$	8,830		$	8,100
Liabilities and Equity
Accounts payable	$	1,300		$	1,200
Accruals		650			600
Notes payable		372			200
Total current liabilities	$	2,322		$	2,000
Long-term debt		1,300			1,200
Total liabilities	$	3,622			3,200
Common stock		3,564			3,700
Retained earnings		1,644			1,200
Total common equity	$	5,208		$	4,900
Total liabilities and equity	$	8,830		$	8,100

Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions.

1. 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.

$ 810 million

1. 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:$ 3000 million

2019:$ 2600 million

1. 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:$ 6650 million

2019:$ 6100 million

1. 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

1. What is the ROIC for 2020? Round your answer to two decimal places.

%

1. 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	$ 165 million
Reduction (increase) in debt	$ -272 million
Payment of dividends	$ 201 million
Repurchase (Issue) stock	$ 136 million
Purchase (Sale) of short-term investments	$ 30 million

. 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: 6650 & million 20196 6100 D million . What is the free cash flow for 20207 Enter your answer in millicns. 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. s 570 '3 million . What is the ROIC for 20207 Round your answer to two decimal places. 14.73 !3 % . How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net steck 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 165 k'f) million Reduction (increase) in debt 272 Qf) miillion Payment of dividends 201 million Repurchase (Issue) stock 136 Q{) million A Purchase (Sale) of short-term investments 30 QD million