Balance Sheet: Assets Cash Accounts Receivable Inventory Net Plant & Equipment 2018 $6,000 15,700 25,000 50,307 2019 $7,200 14,600 28,000 78,400 Liabilities & Equity Accounts Payable Accruals Notes Payable Long-term debt Common stock Retain earnings 2018 $20,000 24,130 9,400 23,000 9,427 11,050 2019 $45,000 23,640 7,000 19,000 17,667 15,893 Income Statement: Net Sales Operating costs except depreciation Depreciation Interest 2018 208,000 180,500 8,000 2,268 2019 224,000 199,764 12,000 1,560 Other Data: Shares outstanding Year-end stock price Tax rate Cost of capital 2018 1600 $20 25% 10% 2019 1840 $21.50 25% 10% What is the M/B ratio at the end of the fiscal year 2018? a. 1.56 b. 1.68 c. 1.81 d. 3.39 e. 2.90 What is the firm's after-tax operation income in 2018? a. $17,232 b. $12,924 c. $20,625 d. $14,625 e. $6,875 What is the firm's after-tax operation income in 2018? a. $17,232 b. $12,924 c. $20,625 d. $14,625 e. $6,875 What is the times interest earned (TIE) of the firm in 2018? a. 7.60 b. 8.60 c. 5.70 d. 9.17 e. 12.13 What is the Market Value Added (MVA) for this firm at the end of the fiscal year 2018? a. $11,523 b. $9,337 c. $22,573 d. $14,333 e. $20,950