Here are simplified financial statements for Watervan Corporation: INCOME STATEMENT (Figures in $ millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes Net income $897.00 757.00 47.00 $ 93.00 28.00 $ 65.00 13.65 $ 51.35 BALANCE SHEET (Figures in $ millions) End of Year Start of Year $ $ B 85 290 344 238 $ 675 $ Assets Current assets Long-term assets Total assets Liabilities and shareholders' equity Current liabilities Long-term debt Shareholders' equity Total liabilities and shareholders' equity 582 $ $ 210 124 341 173 137 272 $ 675 $ 582 The company's cost of capital is 8.5%. a. Calculate Watervan's economic value added (EVA). (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) b. What is the company's return on capital? (Use start-of-year rather than average capital.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) c. What is its return on equity? (Use start-of-year rather than average equity.) (Enter your answer as a percent rounded to 2 decimal places.) d. Is the company creating value for its shareholders? a. Economic value added million b. Return on capital % C. Return on equity % d. Is the company creating value for its shareholders? Yes