2 questions with reference

Use Allied Food Products Company's Income statement and balance sheet as well as additional data provided to answer the questions below. BALANCE SHEETS - Allied Food Products - December 31 2015 2014 (in millions of dollars) Assets Cash and equivalents 10 80 Accounts receivable 375 315 Inventories 615 415 Total current assets ? ? Net plant and equipment 1,000 870 Total assets ? ? Liabilities and Equity Accounts payable 60 30 Accruals Notes payable Total current liabilities Long-term bonds 750 580 Total liabilities ? ? Common stock (50,000,000 shares) 130 130 Retained earnings 810 750 Total common equity ? ? Total liabilities and equity 2 7 140 110 ? 130 60 ? INCOME STATEMENTS - Allied Food Products - Years Ending December 31 (in millions of dollars) 2015 2014 Sales 10,000.0 9,500.0 Cost of Goods Sold 7,000.0 6,650.0 Operating costs except depreciation and amortization 2,616.2 2,497.0 Depreciation and amortization 100.0 90.0 Earnings before interest and taxes (EBIT) ? ? Less interest 88.0 60.0 Earnings before taxes (EBT) 203.0 Taxes 78.3 81.2 Net income 7 ? 195.8 Additional Data Year-end stock price Shares outstanding (in millions) Tax rate 2015 $23.06 50 40% 2014 $26.00 50 40% 1. Fill in the empty cells (each correct value is 2 points. 28 points) 2. Calculate and interpret the Earnings per Share (EPS). Did it improve from 2014 to 2015? (8 points)