Please include formulas

1. Using the financial statements shown below, calculate net operating working capital, total net operating capital, net operating profit after taxes, free cash flow, and return on invested capital for the most recent ear. The federal-plus-state tax rate is 25%. Sales an & Chen Technologies: Income Statements for Year Ending December 31 Millions of Dollars) 2022 $945,000 Expenses excluding depreciation and amortization 812.700 EBITDA $132,300 Depreciation and amortization 33,100 EBIT $99,200 nterest Expense 10.400 EBT $88,800 Taxes (25%) 22 200 Net income $66,600 2021 $900.000 774,000 $126,000 31.500 $94.500 8.900 $85,600 21.400 $64,200 Common dividends Addition to retained earnings $43,300 $23,300 $41,230 $22,970 Lan & Chen Technologies: December 31 Balance Sheets (Millions of Dollars) Assets Cash and cash equivalents Short-term investments Accounts Receivable nventories Total current assets Net fixed assets Total assets 2022 $47,250 3,800 283,500 141.750 $476,300 330.750 $807,050 2021 $45,000 3,600 270,000 135,000 $453,600 315.000 $768,600 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 $94,500 47,250 17.400 $159,150 90.000 $249,150 $444,600 113.300 $557.900 $807,050 $90,000 45,000 9.000 $144,000 90,000 $234,000 $444,600 90,000 $534,600 $768,600 Key Input Data Tax rate 25% Het operating working capital (NOWC) Operating 2022 NOWC = ssets 2022 NOWC = 2022 NOWC = Operating current liabilities points Operating current liabilities 2021 Operating NOWC = current assets NOWC = NOWC = 2021 2021 let operating working capital (NOWC) Operating 2022 NOWC = current assets 2022 NOWC = 2022 NOWC = Operating current liabilities points 2 Operating current liabilities 2021 2021 2021 Operating NOWC = current assets NOWC = NOWC = 2 + Fixed assets otal net operating capital (TNOC) 2022 TNOC = NOWC 2022 TNOC = 2022 TNOC 2 NOWC + Fixed assets 2021 2021 2021 TNOC = TNOC = TNOC = + 2 nvestment in total net operating capital 2022 2022 Inv. In TOC = TNOC 2022 Inv. In TOC = 2022 Inv. In TOC = 2021 TNOC 2 EBIT (1-T) let operating profit after taxes 2022 NOPAT = 2022 NOPAT = 2022 NOPAT = 2 NOPAT Investment in total net operating capital ree cash flow 2022 2022 2022 FCF = FCF = FCF = 2 NOPAT Total net operating capital Ceturn on invested capital 2022 ROIC = 2022 ROIC = 2022 ROIC = / 1 2 Assume that there were 15 million shares outstanding at the end of the year, the year-end closing stock rice was $65 per share, and the after-tax cost of capital was 10%. Calculate EVA and MVA for the most ecent year. dditional Input Data tock price per share of shares (in thousands) fter-tax cost of capital $65.00 15,000 10.0% # of shares Total common equity Tarket Value Added MVA = Stock price MVA = MVA = MVA = 2 (Operating Capital X After-tax cost of capital) conomic Value Added EVA = NOPAT EVA = EVA = EVA = 2