1. Choose Wal-mart and X cel Energy and download their most recent five years' annual financial statements (balance sheet and income statement) from Capital IQ platform. a. For each firm, calculate the return on equity (ROE), the dividend per share, and the earnings per share for the five years. Record them in a spreadsheet. b. Calculate the dividend payout ratio (dividends per share/earnings per share) and the retention ratio (1-dividend payout ratio) for each year. c. Compute the growth rate, g=bROE, where b equals the retention ratio, for each year