In explicit forecasting, we project financial statements for the next 5 to 10 years. For a firm like Walmart, which item is usually forecasted first? Total Assets Revenues or Sales Net Earnings Total Liabilities The following table reports firm values for various ROICs and growth rates. Each value is calculated based on the constant-growth EP model. The cost of capital (WACC) is 10%, and the invested capital today is $1,000. What is a correct description of the relationship between ROIC and firm value? ROIC and firm value have no relationship at all. The higher the ROIC, the lower the firm value. The lower the ROIC, the higher the firm value. The higher the ROIC, the higher the firm value