Question

Millions of Dollars) 2020 2019 Sales $ 13,000 $ 11,000 Operating costs excluding depreciation 11,564 9,722 Depreciation and amortization 420 370 Earnings before interest and taxes $ 1,016 $ 908 Less interest 260 200 Pre-tax income $ 756 $ 708 Taxes (25%) 189 177 Net income available to common stockholders $ 567 $ 531 Common dividends $ 201 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 650 $ 600 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,250 1,200 Total current assets $ 4,760 $ 4,400 Net plant and equipment 3,750 3,500 Total assets $ 8,510 $ 7,900 Liabilities and Equity Accounts payable $ 1,300 $ 1,200 Accruals 650 600 Notes payable 192 100 Total current liabilities $ 2,142 $ 1,900 Long-term debt 1,300 1,200 Total liabilities $ 3,442 3,100 Common stock 3,502 3,600 Retained earnings 1,566 1,200 Total common equity $ 5,068 $ 4,800 Total liabilities and equity $ 8,510 $ 7,900 Suppose the federal-plus-state tax corporate tax is 25%. Answer the following questions. What is the net operating profit after taxes (NOPAT) for 2020? 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 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. 2020: $ million 2019: $ million 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. 2020: $ million 2019: $ million What is the free cash flow for 2020? 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 What is the ROIC for 2020? Round your answer to two decimal places. % How much of the FCF did Rhodes use

I have roc is 1.4% I'm told its wrong. im confued why my ROIC percentage is wrong

Answer 1