Here are simplified financial statements for Watervan Corporation: ook nt ences 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 $ 894.00 754.00 44.00 $ 96.00 25.00 $ 71.00 14.91 $ 56.09 Assets BALANCE SHEET (Figures in $ millions) End of Year Sta Y Note: Enter your answer as a percent rounded to 2 decimal places. d. Is the company creating value for its shareholders? a. Economic value added b. Return on capital c. Return on equity million % % d. Is the company creating value for its shareholders? Assets Current assets Long-term assets Total assets BALANCE SHEET (Figures in $ millions) End of Year Start of Year $ 382 284 $ 666 $ 338 235 $ 573 Liabilities and shareholders' equity Current liabilities Long-term debt $ 207 121 $ 170 134 Shareholders' equity 338 269 Total liabilities and shareholders' equity $ 666 $ 573 The company's cost of capital is 8.5%. Required: a. Calculate Waterva Check my work Total liabilities and shareholders' equity $ 666 $ 573 The company's cost of capital is 8.5%. Required: a. Calculate Watervan's economic value added (EVA). Note: 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.) Note: 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.) Note: 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