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Free Cash Flows Rhodes Corporation's financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2022 2021 Sales $ 12,000 10,568 $ 11,000 9,682 Operating costs excluding depreciation Depreciation and amortization 400 390 $ 1,032 928 Earnings before interest and taxes estions Navigation Menu LEJ TITLEJU 220 200 Pre-tax income $ 812 728 Taxes (25%) 203 182 Net income available to common stockholders $ 609 $ 546 Common dividends $ 203 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2022 2021 Assets Cash $ 650 600 Short-term investments 130 100 Accounts receivable 2,500 2,750 1,850 Inventories Total current assets $5,380 3,850 1,800 $5,000 3,500 Net plant and equipment Total assets $9,230 $ 8,500 Liabilities and Equity Accounts payable $ 1,300 $ 1,200 Accruals 650 600 Notes payable 174 100 Total current liabilities $2,124 $ 1,900 Long-term debt 1,300 1,200 Total liabilities $3,424 3,100 Common stock 4,700 4,700 1,106 700 Retained earnings Total common equity $ 5,806 $5,400 Total liabilities and equity $9,230 $ 8,500 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 2022? 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. $ million 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. 2022: $ million 2021: $ 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. 2022: $ million 2021: $ million d. What is the free cash flow for 2022? 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 2022? 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 $ million Reduction (increase) in debt $ million Payment of dividends $ million Repurchase (Issue) stock $ million Purchase (Sale) of short-term investments $ million

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