Balance Sheet (Millions of S) Income Statement (Millions of S) Net sales Operating costs except depreciation 2018e 2018e 2017 Assets Cash and securities Accounts receivable S2,200 $2,000 S11,200 $11,000 Depreciation $93,200 $81,813 $3,000 S15,000 $14,000 (EBIT) Earings before interest and taxes Inventories $8,387 Total current assets Gross Fixed Asset Net plant and equipment Total assets $28,400 $27,000 Less interest $48,000 $45,500 $45,000 $41,500 $73,400 $68,500 Taxes $1,375 $7,012 S2,454.2 Earnings before taxes (EBT) Net income $4,558 Liabilities and Equity(Millions of s) Accounts payable Notes payable Accruals S9,000 $7,500 Other data: 6,000 6,000 500 $637.59 10.00% 0.40 $28.70 $4,000 5,000 5,000 Shares outstanding (millions) Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity $20,000 $18,500 $18,400 S35,000 $38,400 S53,500 $4,000 $4,000 $31,000 $11,000 $35,000 $15,000 $73,400 $68,500 Common dividends After-tax cost of capital Federal plus state income tax rate Year-end stock price 2017 Depreciation(million)