Business, 25.09.2020 02:01, Wolfgirl2032
Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2019 2018 Sales $ 2,040.0 $ 1,700.0 Operating costs excluding depreciation and amortization 1,734.0 1,445.0 EBITDA $ 306.0 $ 255.0 Depreciation and amortization 39.0 36.0 Earnings before interest and taxes (EBIT) $ 267.0 $ 219.0 Interest 44.9 37.4 Earnings before taxes (EBT) $ 222.1 $ 181.6 Taxes (25%) 88.8 72.6 Net income $ 133.3 $ 109.0 Common dividends $ 120.0 $ 87.2 Powell Panther Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2019 2018 Assets Cash and equivalents $ 21.0 $ 17.0 Accounts receivable 262.0 238.0 Inventories 430.0 391.0 Total current assets $ 713.0 $ 646.0 Net plant and equipment 393.0 357.0 Total assets $ 1,106.0 $ 1,003.0 Liabilities and Equity Accounts payable $ 213.0 $ 170.0 Accruals 191.0 153.0 Notes payable 40.8 34.0 Total current liabilities $ 444.8 $ 357.0 Long-term bonds 408.0 340.0 Total liabilities $ 852.8 $ 697.0 Common stock 207.2 273.3 Retained earnings 46.0 32.7 Common equity $ 253.2 $ 306.0 Total liabilities and equity $ 1,106.0 $ 1,003.0 Write out your answers completely. For example, 25 million should be entered as 25,000,000. Round your answers to the nearest dollar, if necessary. Negative values, if any, should be indicated by a minus sign. What was net operating working capital for 2018 and 2019? Assume the firm has no excess cash.
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