Accounting data are used to analyze cash flows, and this analysis is critical for decision making. Consider the following case:J&H Corp. recently hired Jeffrey. His immediate mandate was to analyze the company. He has to submit a report on the company’s operational efficiency and estimate potential investment in working capital. He has the income statement from last year and the following information from the company’s financial reports as well as some industry averages.• Last year, J&H Corp. reported a book value of $700 million in current assets, of which 25% is cash, 27% is short-term investments, and the rest is accounts receivable and inventory.• The company reported $595.0 million of current liabilities including accounts payable and accruals. Interestingly, the company had no notes payable claims last year. There were no changes in the accounts payables during the reporting period.• The company, however, invested heavily in plant and equipment to support its operations. It reported a book value of $1,120 million in long-term assets last year. Income Statement For the Year Ended on December 31 (Millions of dollars) J&H Corp. Industry AverageNet sales $1,900 $2,375Operating costs, except depreciation and amortization 1,520 1,900Depreciation and amortization 76 95Total operating costs 1,596 1,995Operating income (or EBIT) $304 $380Less: Interest 30 57Earnings before taxes (EBT) $274 $323Less: Taxes (40%) 110 129Net income $164 $194Based on the information given to Jeffrey, he submits a report on January 1 with some important calculations for management to use, both for analysis and to devise an action plan. Which of the following statements in his report are true? Check all that apply. a. The company is using -$84.0 million in net operating working capital acquired by investor-supplied funds. b. The firm uses $1,036.0 million of total net operating capital to run the business. c. J&H Corp.’s NOPAT is $182.4 million, which is lower than the industry average of $228.0 million. d. The company has $511.0 million in operating assets and $595.0 million in operating liabilities. e. J&H Corp. has $98.4 million of net operating capital.