Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2021 2020 Assets Cash and equivalents $ 13,000 $ 12,000 Accounts receivable 30,000 25,000 Inventories 29,495 23,000 Total current assets $ 72,495 $ 60,000 Net plant and equipment 49,000 46,000 Total assets $121,495 $106,000 Liabilities and Equity Accounts payable $ 10,600 $ 8,500 Accruals 7,000 6,000 Notes payable 7,000 5,300 Total current liabilities $ 24,600 $ 19,800 Long-term bonds 10,000 10,000 Total liabilities $ 34,600 $ 29,800 Common stock (4,000 shares) 50,000 50,000 Retained earnings 36,895 26,200 Common equity $ 86,895 $ 76,200 Total liabilities and equity $121,495 $106,000 Income Statement for Year Ending December 31, 2021 Sales $203,000 Operating costs excluding depreciation and amortization 150,000 EBITDA $ 53,000 Depreciation & amortization 8,000 EBIT $ 45,000 Interest 6,700 EBT $ 38,300 Taxes (25%) 9,575.00 Net income $28,725.00 Dividends paid $18,030.00 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary. What was net operating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. 2020 $ million 2021 $ million What was Arlington's 2021 free cash flow? $ million Construct Arlington's 2021 statement of stockholders' equity. Statement of Stockholders' Equity, 2021 Common Stock RetainedEarnings Total Stockholders'Equity Shares Amount Balances, 12/31/20 million $ million $ million $ million 2021 Net Income million Cash Dividends million Addition to retained earnings million Balances, 12/31/21 million $ million $ million $ million What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. $ million What was Arlington's MVA at year-end 2021? Assume that its stock price at December 31, 2021 was $25. Round your answer to the nearest cent. $ million

Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2021 2020 Assets Cash and equivalents $ 13,000 $ 12,000 Accounts receivable 30,000 25,000 Inventories 29,495 23,000 Total current assets $ 72,495 $ 60,000 Net plant and equipment 49,000 46,000 Total assets $121,495 $106,000 Liabilities and Equity Accounts payable $ 10,600 $ 8,500 Accruals 7,000 6,000 Notes payable 7,000 5,300 Total current liabilities $ 24,600 $ 19,800 Long-term bonds 10,000 10,000 Total liabilities $ 34,600 $ 29,800 Common stock (4,000 shares) 50,000 50,000 Retained earnings 36,895 26,200 Common equity $ 86,895 $ 76,200 Total liabilities and equity $121,495 $106,000 Income Statement for Year Ending December 31, 2021 Sales $203,000 Operating costs excluding depreciation and amortization 150,000 EBITDA $ 53,000 Depreciation & amortization 8,000 EBIT $ 45,000 Interest 6,700 EBT $ 38,300 Taxes (25%) 9,575.00 Net income $28,725.00 Dividends paid $18,030.00 Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary. What was net operating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes. 2020 $ million 2021 $ million What was Arlington's 2021 free cash flow? $ million Construct Arlington's 2021 statement of stockholders' equity. Statement of Stockholders' Equity, 2021 Common Stock RetainedEarnings Total Stockholders'Equity Shares Amount Balances, 12/31/20 million $ million $ million $ million 2021 Net Income million Cash Dividends million Addition to retained earnings million Balances, 12/31/21 million $ million $ million $ million What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent. $ million What was Arlington's MVA at year-end 2021? Assume that its stock price at December 31, 2021 was $25. Round your answer to the nearest cent. $ million

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.

Balance Sheets as of December 31
	2021	2020
Assets
Cash and equivalents	$ 13,000	$ 12,000
Accounts receivable	30,000	25,000
Inventories	29,495	23,000
Total current assets	$ 72,495	$ 60,000
Net plant and equipment	49,000	46,000
Total assets	$121,495	$106,000

Liabilities and Equity
Accounts payable	$ 10,600	$ 8,500
Accruals	7,000	6,000
Notes payable	7,000	5,300
Total current liabilities	$ 24,600	$ 19,800
Long-term bonds	10,000	10,000
Total liabilities	$ 34,600	$ 29,800
Common stock (4,000 shares)	50,000	50,000
Retained earnings	36,895	26,200
Common equity	$ 86,895	$ 76,200
Total liabilities and equity	$121,495	$106,000

Income Statement for Year Ending December 31, 2021
Sales	$203,000
Operating costs excluding depreciation and amortization	150,000
EBITDA	$ 53,000
Depreciation & amortization	8,000
EBIT	$ 45,000
Interest	6,700
EBT	$ 38,300
Taxes (25%)	9,575.00
Net income	$28,725.00
Dividends paid	$18,030.00

Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary.

What was net operating working capital for 2020 and 2021? Assume that all cash is excess cash; i.e., this cash is not needed for operating purposes.

2020 $ million

2021 $ million
What was Arlington's 2021 free cash flow?

$ million

Construct Arlington's 2021 statement of stockholders' equity.

Statement of Stockholders' Equity, 2021
	Common Stock	Retained Earnings	Total Stockholders' Equity
Shares	Amount
Balances, 12/31/20	million	$ million	$ million	$ million
2021 Net Income		million
Cash Dividends		million
Addition to retained earnings			million
Balances, 12/31/21	million	$ million	$ million	$ million

What was Arlington's 2021 EVA? Assume that its after-tax cost of capital is 10%. Round your answer to the nearest cent.

$ million
What was Arlington's MVA at year-end 2021? Assume that its stock price at December 31, 2021 was $25. Round your answer to the nearest cent.

$ million

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