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
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 103.1C: Leverage Cook Corporation issued financial statements at December 31, 2019, that include the...
Related questions
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
EarningsTotal Stockholders'
EquityShares 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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