The balance sheet and income statement of Eastland Products, Inc., are as follows:

Using these data, determine the following:

a. Earnings per share

b. Price-to-earnings ratio •c. Book value per share

d. Market-to-book ratio

e. How much of the retained earnings total was added during 2009?

f. Show Eastland’s new balance sheet after the company sells 1 million new common shares in early 2010 to net $30 a share. Part of the proceeds, $10 million, is used to reduce current liabilities, and the remainder is temporarily deposited in the company’s bank account. Later, this remaining amount (along with additional long-term debt financing) will be invested in new manufacturing facilities. k-63

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Balance Sheet, December 31, 2009 (in Millions of Dollars) Current assets Fixed assets, net $ 40 Current liabilities $ 30 110. Long-term debt Common stock ($1 par) Contributed capital in excess of par value Butg 40 5 20 Retained earnings 55 Total assets $150 Total liabilities and equity $150