Below is selected financial information for Panettone, Inc. Income Statement (S in Millions) Balance Sheet ($ in Millions) Assets Liabilities and Equity Sales 700 700 00 Administrative Expenses 100 Current Assets Cash Accounts urrent Liabilities t of Goods Sold nts Payable 00 Notes Payable 00 Depreciation Receivable nventory Total Current arnings Before Interest nd Taxes 500 Total Current Liabilities 700 1200 | Long-Term Liabilities Long-Term Debt Total Long-Term 100 : Interest Expense 00 Taxable Income 00 Taxes Assets 48 Fixed Assets 172 bilities Property, Plant and 1000 Equip Less Acc Depreciation et Income 376 Owners' Equity Dividends 300 0 et Fixed Assets 700 Common Stock (S1 Pan)200 Addition to Retained -376 arnings Capital Surplus Retained Earnings 100 Other Information Total Owners' Equity 600 o. of Shares Outstanding Millions) 200 1900 Total Liab. and Equity 1900 Price per Share Total Assets 1.24