Balance Sheets as of December 31
2021 2020
Assets
Cash and equivalents $ 15,000 $ 13,000
Accounts receivable 35,000 30,000
Inventories 30,160 28,000
Total current assets $ 80,160 $ 71,000
Net plant and equipment 50,000 48,000
Total assets $130,160 $119,000
Liabilities and Equity
Accounts payable $ 10,700 $ 9,000
Accruals 7,700 7,000
Notes payable 7,000 5,000
Total current liabilities $ 25,400 $ 21,000
Long-term bonds 10,000 10,000
Total liabilities $ 35,400 $ 31,000
Common stock (4,000 shares) 40,000 40,000
Retained earnings 54,760 48,000
Common equity $ 94,760 $ 88,000
Total liabilities and equity $130,160 $119,000
Income Statement for Year Ending December 31, 2021
Sales $239,000
Operating costs excluding depreciation and amortization 190,000
EBITDA $ 49,000
Depreciation & amortization 5,000
EBIT $ 44,000
Interest 4,600
EBT $ 39,400
Taxes (25%) 9,850.00
Net income $29,550.00
Dividends paid $22,790.00
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.