12. a. What change in the book value of the company's equity took place at the end of 2015? .

b. Is the company's market-to-book ratio meaningful? Is its book debt-equity ratio meaningful? Explain.

c. Find the company's other financial statements from that time online. What was the cause of the change to its book value of equity at the end of 2015? .

d. Does the company's book value of equity in 2016 imply that it is unprofitable? Explain.

2016 2015 23.7 Global Corporation Balance Sheet for 2016 and 2015 (5 millions) Assets Current Assets Cash Accounts receivable inventories Total current assets Long Term Assets Net property, plant, and equipment Total long-term assets 192 16.1 20.5 12.8) 14.6 47.9 Liabilities and Stockholders' Equity Current Liabilities Accounts payable Notes payable/short-term debt Total current liabilities Long-Term Liabilities Long-term debt Total long-term liabilities Total Liabilities 59 113.5 113. 5 81.2 1.2 8 Stockholders' Equity Common stock and paid in surplus Retained earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Total Assets 2.5 2016 2015 26.9 29.8 5.5 35.3 2.4 29.3 114.8 114.8 150.1 78.8 78.8 108.1 8.7 8.7 13.7 12.3 21 22.4 172.5 129.1