Here are simplified financial statements for watervan Corporations

Income Statement (Figures in $ Millions)
Net Sales	$ 884.00
Cost of goods sold	$ 744.00
Depreciation	$ 34.00
Earnings before interest and Taxes (EBIT)	$ 106.00
Interest Expense	$ 15.00
Income before tax	$ 91.00
Taxes	$ 19.11
Net Income	$ 71.89

Balance Sheet (Figures in $ Millions)	End of Year	Start of Year
Assets
Current Assets	$ 372.00	$ 318.00
Long-term assets	$ 264.00	$ 225.00
Total Assets	$ 636.00	$ 543.00
Liabilities and shareholder's equity
Current Liabilities	$ 197.00	$ 160.00
Long-term Debt	$ 111.00	$ 124.00
Shareholder's equity	$ 328.00	$ 259.00
Total Liabilities and Shareholders" equity	$ 636.00	$ 543.00

The companys cost of capital is 8.5%

1. Calculate Watervans economic value added (EVA)

Economic Value added

million

2. What is the companys return on capital? (Use start of year rather than average capital)

Return on Capital

%

3. What is the return on equity? (Use start of year rather than average capital)

Return on Equity

%

4. Is the company creating value for its shareholders?

Is the company creating value for its shareholders?