Reference no: EM131810285
FREE CASH FLOW
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31
2016 2015
Assets
Cash and equivalents $12,000 $ 11,000
Accounts receivable 35,000 30,000
Inventories 32,480 29,000
Total current assets $79,480 $70,000
Net plant and equipment 51,000 49,000
Total assets $130,480 $119,000
Liabilities and Equity
Accounts payable $10,200 $ 9,500
Accruals 8,000 6,000
Notes payable 6,700 5,150
Total current liabilities $24,900 $ 20,650
Long-term bonds 15,000 15,000
Total liabilities $39,900 $ 35,650
Common stock (4,000 shares) 50,000 50,000
Retained earnings 40,580 33,350
Common equity $90,580 $ 83,350
Total liabilities and equity $130,480 $119,000
Income Statement for Year Ending December 31, 2016
Sales $226,000
Operating costs excluding depreciation and amortization 180,000
EBITDA $46,000
Depreciation & amortization 3,000
EBIT $43,000
Interest 3,500
EBT $39,500
Taxes (40%) 15,800
Net income $23,700
Dividends paid 16,470
What was net operating working capital for 2015 and 2016?
What was Arlington's 2016 free cash flow?
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