1. Fill in the table below for a share repurchase. Assume the company buys back 100,000 shares at $20 per share.

	Before Buyback	After Buyback
Cash	$10,000,000
Total Assets	$100,000,000
Common Stock - $10 Par X 1,000,000 shares	$10,000,000
Additional paid in capital - $5 X 1,000,000 shares	$5,000,000
Retained Earnings	$5,000,000
Treasury Stock at Cost	$0
Total Equity	$20,000,000
Total Liabilities	$80,000,000
Earnings aka Net Income	$2,000,000
# Shares Outstanding Treasury stock is not outstanding	1,000,000
EPS = profit/# shares
ROA = profit/assets
ROE = profit / equity
Stock Price = EPS X P/E
P/E ratio = stock price/EPS	10	10