Balance Sheet of iX USA Inc 2020 Cash 35 Trade Receivables 55 Inventory 25 PPE 235 Total Assets 350 Trade Payables 50 Long Term Debt 70 Share Capital 10 Retained Earnings 220 Equity and Liabilities 350 Income Statement of iX USA Inc 2020 Sales 450 Cost of Sales (180) Gross Profit 270 2019 20 40 30 200 290 35 85 10 160 290 2019 400 (160) 240 Operating expenses (130) (100) Depreciation (50) (30) EBIT 90 110 Interest expense (10) (10) Net profit before tax 80 100 Taxation (25%) (20) (25) Net Profit after tax 60 75 2) Undertake a Du Pont analysis for 2019 and 2020 - what comments can you make about the changes in ROE from one year to the next? 3) An equity analyst has forecast that iX USA Inc., will pay its first dividend one year from now in the amount of $1.00. For the following year, he forecasts a dividend of $1.50 and expects dividends to increase at an average rate of 8% for the foreseeable future after that. If the risk-free rate is 5%, the expected market risk premium is 8%, and iX's beta is 1.1, what should iX's current share price be? 4) An equity analyst feels that Peach and Plum's earnings and dividends will grow at 20% for two years, after which growth will fall to a constant rate of 7%. If the projected discount rate is 12%, and Peach and Plum's most recently paid dividend was $1.20, what is the value of Peach and Plum's stock using the multistage dividend discount model? 5) iX USA Inc. just paid a dividend of $1.50 with the stock currently trading at $25. Assume a required rate of return of 13%, what is the implied growth rate