Lion Mane Income Statement In Millionsn except per share items. \begin{tabular}{|c|r|r|r|r|} \hline For the Fiscal Period Ending & 12 months Dec-31-2018 & 12 months Dec-31-2019 & 12 months Dec-31-2020 & 12 months Dec-31-2021 \\ \hline Revenue & 193,919.0 & 255,765.0 & 267,908.0 & 290,912.0 \\ \hline Total Revenue & 193,919.0 & 255,765.0 & 267,908.0 & 290,912.0 \\ \hline \end{tabular} Cost Of Goods Sold Gross Profit \begin{tabular}{|r|r|r|r|} 163,041.0 & 211,248.0 & 219,660.0 & 240,063.0 \\ \hline 30,878.0 & 44,517.0 & 48,248.0 & 50,849.0 \\ \hline \end{tabular} Selling General \& Admin Exp. \begin{tabular}{|r|r|r|r|} \hline 20,827.0 & 32,699.0 & 34,585.0 & 37,072.0 \\ \hline & & & \\ \hline 20,827.0 & 32,699.0 & 34,585.0 & 37,072.0 \\ \hline \end{tabular} Other Operating Exp., Total \begin{tabular}{|r|r|r|r|} \hline 10,051.0 & 11,818.0 & 13,663.0 & 13,777.0 \\ \hline(2,619.0) & (3,035.0) & (2,907.0) & (2,503.0) \\ \hline 660.0 & 1,011.0 & 798.0 & 1,199.0 \\ \hline(1,959.0) & (2,024.0) & (2,109.0) & (1,304.0) \\ \hline \end{tabular} Operating Income \begin{tabular}{rr|r|r|} (2.0) & (7.0) & (12.0) & (4.0) \\ \hline 8,090.0 & 9,787.0 & 11,542.0 & 12,469.0 \\ \hline \end{tabular} Other Non-Operating Inc. (Exp.) EBT Excl. Unusual Items Restructuring Charges Merger \& Related Restruct. Charges Impairment of Goodwill Asset Writedown Legal Settlements \begin{tabular}{|r|r|r|r|} \hline & (231.0) & & (1,358.0) \\ \hline(492.0) & (480.0) & (332.0) & (132.0) \\ \hline(6,149.0) & & & (431.0) \\ \hline(43.0) & & & \\ \hline & & & 263.0 \\ \hline & (79.0) & (1,440.0) & (391.0) \\ \hline 1,406.0 & 8,997.0 & 9,770.0 & 10,420.0 \\ \hline \end{tabular} Income Tax Expense Earnings from Cont. Ops. \begin{tabular}{|r|r|r|r|} \hline 2,002.0 & 2,366.0 & 2,569.0 & 2,522.0 \\ \hline (596.0) & 6,631.0 & 7,201.0 & 7,898.0 \\ \hline \end{tabular} Earnings of Discontinued Ops. Net Income to Company \begin{tabular}{rrrr|r} & & (9.0) & \\ \hline (596.0) & 6,631.0 & 7,192.0 & 7,898.0 \\ \hline \end{tabular} Minority Int. in Earnings Net Income \begin{tabular}{rrrr} 2.0 & 3.0 & (13.0) & 12.0 \\ \hline (594.0): & 6,634.0 & 7,179.0 & 7,910.0 \\ \hline \hline \end{tabular} Pref. Dividends and Other Adj. 3.05.0 NI to Common Incl Extra Items \begin{tabular}{|l|r|r|r|} \hline (597.0) & 6,629.0 & 7,179.0 & 7,910.0 \\ \hline \end{tabular} Per Share Items \begin{tabular}{|l|r|r|r|r} \hline Basic EPS & ($0.57) & $5.1 & $5.48 & $6.0 \\ \hline Weighted Avg. Basic Shares Out. & 1,044.0 & 1,301.0 & 1,309.0 & 1,319.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r} \hline Dividends per Share & $2.0 & $2.0 & $2.0 & $2.0 \\ \hline Payout Ratio \% & NM & 39.2% & 36.6% & 33.2% \end{tabular} Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline EBITDA & 12,769.0 & 16,189.0 & 18,104.0 & 18,289.0 \\ \hline EBIT & 10,051.0 & 11,818.0 & 13,663.0 & 13,777.0 \\ \hline Effective Tax Rate \% & 142.4% & 26.3% & 26.3% & 24.2% \\ \hline Current Domestic Taxes & 1,979.0 & 3,015.0 & 3,133.0 & 2,950.0 \\ \hline Total Current Taxes & 1,979.0 & 3,015.0 & 3,133.0 & 2,950.0 \\ \hline \end{tabular} Supplemental Operating Expense Items Advertising Exp. Selling and Marketing Exp. \begin{tabular}{|r|r|r|r|} \hline 364.0 & 396.0 & 461.0 & 523.0 \\ \hline 364.0 & 396.0 & 461.0 & 523.0 \\ \hline \end{tabular} Lion Mane Balance Sheet In Millionsn except per share items. LIABILITIES \begin{tabular}{|l|r|r|r|r|} \hline Accounts Payable & 8,925.0 & 10,492.0 & 11,138.0 & 12,544.0 \\ \hline Accrued Exp. & 16,701.0 & 18,855.0 & 21,181.0 & 25,291.0 \\ \hline Short-term Borrowings & 720.0 & & & \\ \hline Curr. Port. of LT Debt & 1,265.0 & 3,754.0 & 5,407.0 & 4,155.0 \\ \hline Curr. Port. of Leases & & 1,623.0 & 1,671.0 & 1,696.0 \\ \hline Unearned Revenue, Current & 67.0 & 73.0 & 71.0 & 87.0 \\ \hline Other Current Liabilities & 16,331.0 & 18,506.0 & 22,549.0 & 24,034.0 \\ \hline Total Current Liabilities & 44,009.0 & 53,303.0 & 62,017.0 & 67,807.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Long-Term Debt & 70,802.0 & 63,918.0 & 58,157.0 & 50,721.0 \\ \hline Long-Term Leases & 642.0 & 19,707.0 & 19,807.0 & 19,427.0 \\ \hline Pension \& Other Post-Retire. Benefits & 300.0 & 313.0 & 285.0 & 250.0 \\ \hline Def. Tax Liability, Non-Curr. & 7,677.0 & 7,294.0 & 6,794.0 & 6,270.0 \\ \hline Other Non-Current Liabilities & 14,483.0 & 13,744.0 & 13,954.0 & 13,143.0 \\ \hline Total Liabilities & 137,913.0 & 158,279.0 & 161,014.0 & 157,618.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Common Stock & 17.0 & 17.0 & 17.0 & 17.0 \\ \hline Additional Paid In Capital & 45,423.0 & 45,955.0 & 46,496.0 & 47,360.0 \\ \hline Retained Earnings & 40,911.0 & 45,108.0 & 49,640.0 & 54,906.0 \\ \hline Treasury Stock & (28,199.0) & (28,206.0) & (28,149.0) & (28,144.0) \\ \hline Comprehensive Inc. and Other & 73.0 & 990.0 & 1,385.0 & 936.0 \\ \hline Total Common Equity & 58,225.0 & 63,864.0 & 69,389.0 & 75,075.0 \\ \hline & & & & \\ \hline Minority Interest & 318.0 & 306.0 & 312.0 & 306.0 \\ \hline Total Equity & 58.543.0 & 64.170.0 & 69.701.0 & 75,381.0 \\ \cline { 1 - 6 } & & & & \end{tabular} Total Liabilities And Equity \( \quad=196,4560 \quad \stackrel{222,4990}{=\quad 230,7150}=\stackrel{232,9990}{\hline} \) Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline Total Shares Out. on Balance Sheet Da & 1,295.0 & 1,302.0 & 1,310.0 & 1,322.0 \\ \hline Book Value/Share & $44.96 & $49.05 & $52.97 & $56.79 \\ \hline Tangible Book Value & (56,977.0) & (49,006.0) & (41,305.0) & (33,072.0) \\ \hline Tangible Book Value/Share & ($44.0) & ($37.64) & ($31.53) & ($25.02) \\ \hline Total Debt & 73,429.0 & 89,002.0 & 85,042.0 & 75,999.0 \\ \hline Land & 1,872.0 & 1,981.0 & 2,134.0 & 2,038.0 \\ \hline Buildings & 3,785.0 & 3,541.0 & 3,950.0 & 4,225.0 \\ \hline Machinery & 13,028.0 & 12,401.0 & 13,125.0 & 13,619.0 \\ \hline Leasehold Improvements & 5,384.0 & 5,611.0 & 6,077.0 & 6,242.0 \\ \hline Full Time Employees & 295,000 & 290,000 & 213,000 & 216,000 \\ \hline Part-Time Employees & NA & NA & 87,000 & 84,000 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Long-Term Debt & 70,802.0 & 63,918.0 & 58,157.0 & 50,721.0 \\ \hline Long-Term Leases & 642.0 & 19,707.0 & 19,807.0 & 19,427.0 \\ \hline Pension \& Other Post-Retire. Benefits & 300.0 & 313.0 & 285.0 & 250.0 \\ \hline Def. Tax Liability, Non-Curr. & 7,677.0 & 7,294.0 & 6,794.0 & 6,270.0 \\ \hline Other Non-Current Liabilities & 14,483.0 & 13,744.0 & 13,954.0 & 13,143.0 \\ \hline Total Liabilities & 137,913.0 & 158,279.0 & 161,014.0 & 157,618.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Common Stock & 17.0 & 17.0 & 17.0 & 17.0 \\ \hline Additional Paid In Capital & 45,423.0 & 45,955.0 & 46,496.0 & 47,360.0 \\ \hline Retained Earnings & 40,911.0 & 45,108.0 & 49,640.0 & 54,906.0 \\ \hline Treasury Stock & (28,199.0) & (28,206.0) & (28,149.0) & (28,144.0) \\ \hline Comprehensive Inc. and Other & 73.0 & 990.0 & 1,385.0 & 936.0 \\ \hline Total Common Equity & 58,225.0 & 63,864.0 & 69,389.0 & 75,075.0 \\ \hline & & & & \\ \hline Minority Interest & 318.0 & 306.0 & 312.0 & 306.0 \\ \hline Total Equity & 58.543.0 & 64.170.0 & 69.701.0 & 75,381.0 \\ \cline { 1 - 6 } & & & & \end{tabular} Total Liabilities And Equity \( \quad=196,4560 \quad \stackrel{222,4990}{=\quad 230,7150}=\stackrel{232,9990}{\hline} \) Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline Total Shares Out. on Balance Sheet Da & 1,295.0 & 1,302.0 & 1,310.0 & 1,322.0 \\ \hline Book Value/Share & $44.96 & $49.05 & $52.97 & $56.79 \\ \hline Tangible Book Value & (56,977.0) & (49,006.0) & (41,305.0) & (33,072.0) \\ \hline Tangible Book Value/Share & ($44.0) & ($37.64) & ($31.53) & ($25.02) \\ \hline Total Debt & 73,429.0 & 89,002.0 & 85,042.0 & 75,999.0 \\ \hline Land & 1,872.0 & 1,981.0 & 2,134.0 & 2,038.0 \\ \hline Buildings & 3,785.0 & 3,541.0 & 3,950.0 & 4,225.0 \\ \hline Machinery & 13,028.0 & 12,401.0 & 13,125.0 & 13,619.0 \\ \hline Leasehold Improvements & 5,384.0 & 5,611.0 & 6,077.0 & 6,242.0 \\ \hline Full Time Employees & 295,000 & 290,000 & 213,000 & 216,000 \\ \hline Part-Time Employees & NA & NA & 87,000 & 84,000 \\ \hline \end{tabular} Lion Mane Cash Flow Statement In Millions, except per share items. For the Fiscal Period Ending \begin{tabular}{|c|c|c|c|} \hline 12 months & 12 months & 12 months & 12 months \\ \hline Dec-31-2018 & Dec-31-2019 & Dec-31-2020 & Dec-31-2021 \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Net Income & (594.0 & 6,634.0 & 7,179.0 & 7,910.0 \\ \hline Depreciation \& Amort. & 1,712.0 & 1,935.0 & 2,100.0 & 2,253.0 \\ \hline Amort. of Goodwill and Intangibles & 1,006.0 & 2,436.0 & 2,341.0 & 2,259.0 \\ \hline Depreciation \& Amort., Total & 2,718.0 & 4,371.0 & 4,441.0 & 4,512.0 \\ \cline { 1 - 5 } & & & & \\ \hline (Gain) Loss From Sale Of Assets & 86.0 & 205.0 & (269.0) & \\ \hline Asset Writedown/Restructure Costs & 6,149.0 & 231.0 & & 1,789.0 \\ \hline Stock-Based Compensation & 280.0 & 453.0 & 400.0 & 484.0 \\ \hline Other Operating Activities & 338.0 & (545.0) & 955.0 & (378.0) \\ \hline Change in Acc. Receivable & (1,139.0) & (2,158.0) & (1,510.0) & (2,703.0) \\ \hline Change In Inventories & (1,153.0) & (1,075.0) & (973.0) & 735.0 \\ \hline Change in Acc. Payable & 2,329.0 & 3,550.0 & 2,769.0 & 2,898.0 \\ \hline Change in Other Net Operating Asset: & (149.0) & 1,182.0 & 2,873.0 & 3,018.0 \\ \hline Cash from Ops. & 8,865.0 & 12,848.0 & 15,865.0 & 18,265.0 \\ \hline Capital Expenditure & & & & \\ \hline Cash Acquisitions & (2,037.0) & (2,457.0) & (2,437.0) & (2,520.0) \\ \hline Divestitures & (42,226.0) & (444.0) & (866.0) & (146.0) \\ \hline Invest. in Marketable \& Equity Securt. & 832.0 & & 840.0 & \\ \hline Other Investing Activities & 125.0 & (485.0) & (3,172.0) & (2,717.0) \\ \hline Cash from Investing & 21.0 & 47.0 & 101.0 & 122.0 \\ \hline \end{tabular} Short Term Debt Issued Long-Term Debt Issued Total Debt Issued \begin{tabular}{|r|r|r|r|} \hline 44,343.0 & 3,736.0 & 9,958.0 & 987.0 \\ \hline 44,343.0 & 3,736.0 & 9,958.0 & 987.0 \\ \hline(556.0) & (720.0) & & \\ \hline(5,522.0) & (8,336.0) & (15,631.0) & (10,254.0) \\ \hline(6,078.0) & (9,056.0) & (15,631.0) & (10,254.0) \\ \hline \end{tabular} Issuance of Common Stock Repurchase of Common Stock \begin{tabular}{|r|r|r|r|} \hline 242.0 & 210.0 & 264.0 & 549.0 \\ \hline(97.0) & (112.0) & (88.0) & (168.0) \\ \hline \end{tabular} Common Dividends Paid Total Dividends Paid \begin{tabular}{rrrr|r|} \hline(2,038.0) & (2,603.0) & (2,624.0) & (2,625.0) \\ \hline(2,038.0) & (2,603.0) & (2,624.0) & (2,625.0) \\ \hline \end{tabular} Special Dividend Paid Other Financing Activities Cash from Financing \begin{tabular}{rr|r|r|r|} \hline 447.0 & 171.0 & 425.0 & 155.0 \\ \hline 36,819.0 & (7,654.0) & (7,696.0) & (11,356.0) \\ \hline \end{tabular} Foreign Exchange Rate Adj. Net Change in Cash \begin{tabular}{rrrr|} (4.0) & & & \\ \hline 2,395.0 & 1,8550 & 2,6350 & 1,648.0 \\ \hline \hline \end{tabular} Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline Cash Interest Paid & 2,803.0 & 2,954.0 & 2,904.0 & 2,469.0 \\ \hline Cash Taxes Paid & 2,383.0 & 2,717.0 & 2,929.0 & 3,195.0 \\ \hline Change in Net Working Capital & (6,975.0) & (2,318.0) & (3,744.0) & (5,049.0) \\ \hline Net Debt Issued & 38,265.0 & (5,320.0) & (5,673.0) & (9,267.0) \\ \hline \end{tabular} 3) What was the net working capital in 2018,2020 , and 2021? Any observations or inferences you'd like to share? 4) How much cash came from operations each year (rather than from financing and/or investing) during the periods from 2018 through 2021 (4 numbers for this question)? What do you notice, particularly with the changing economy during that period of time? Lion Mane Income Statement In Millionsn except per share items. \begin{tabular}{|c|r|r|r|r|} \hline For the Fiscal Period Ending & 12 months Dec-31-2018 & 12 months Dec-31-2019 & 12 months Dec-31-2020 & 12 months Dec-31-2021 \\ \hline Revenue & 193,919.0 & 255,765.0 & 267,908.0 & 290,912.0 \\ \hline Total Revenue & 193,919.0 & 255,765.0 & 267,908.0 & 290,912.0 \\ \hline \end{tabular} Cost Of Goods Sold Gross Profit \begin{tabular}{|r|r|r|r|} 163,041.0 & 211,248.0 & 219,660.0 & 240,063.0 \\ \hline 30,878.0 & 44,517.0 & 48,248.0 & 50,849.0 \\ \hline \end{tabular} Selling General \& Admin Exp. \begin{tabular}{|r|r|r|r|} \hline 20,827.0 & 32,699.0 & 34,585.0 & 37,072.0 \\ \hline & & & \\ \hline 20,827.0 & 32,699.0 & 34,585.0 & 37,072.0 \\ \hline \end{tabular} Other Operating Exp., Total \begin{tabular}{|r|r|r|r|} \hline 10,051.0 & 11,818.0 & 13,663.0 & 13,777.0 \\ \hline(2,619.0) & (3,035.0) & (2,907.0) & (2,503.0) \\ \hline 660.0 & 1,011.0 & 798.0 & 1,199.0 \\ \hline(1,959.0) & (2,024.0) & (2,109.0) & (1,304.0) \\ \hline \end{tabular} Operating Income \begin{tabular}{rr|r|r|} (2.0) & (7.0) & (12.0) & (4.0) \\ \hline 8,090.0 & 9,787.0 & 11,542.0 & 12,469.0 \\ \hline \end{tabular} Other Non-Operating Inc. (Exp.) EBT Excl. Unusual Items Restructuring Charges Merger \& Related Restruct. Charges Impairment of Goodwill Asset Writedown Legal Settlements \begin{tabular}{|r|r|r|r|} \hline & (231.0) & & (1,358.0) \\ \hline(492.0) & (480.0) & (332.0) & (132.0) \\ \hline(6,149.0) & & & (431.0) \\ \hline(43.0) & & & \\ \hline & & & 263.0 \\ \hline & (79.0) & (1,440.0) & (391.0) \\ \hline 1,406.0 & 8,997.0 & 9,770.0 & 10,420.0 \\ \hline \end{tabular} Income Tax Expense Earnings from Cont. Ops. \begin{tabular}{|r|r|r|r|} \hline 2,002.0 & 2,366.0 & 2,569.0 & 2,522.0 \\ \hline (596.0) & 6,631.0 & 7,201.0 & 7,898.0 \\ \hline \end{tabular} Earnings of Discontinued Ops. Net Income to Company \begin{tabular}{rrrr|r} & & (9.0) & \\ \hline (596.0) & 6,631.0 & 7,192.0 & 7,898.0 \\ \hline \end{tabular} Minority Int. in Earnings Net Income \begin{tabular}{rrrr} 2.0 & 3.0 & (13.0) & 12.0 \\ \hline (594.0): & 6,634.0 & 7,179.0 & 7,910.0 \\ \hline \hline \end{tabular} Pref. Dividends and Other Adj. 3.05.0 NI to Common Incl Extra Items \begin{tabular}{|l|r|r|r|} \hline (597.0) & 6,629.0 & 7,179.0 & 7,910.0 \\ \hline \end{tabular} Per Share Items \begin{tabular}{|l|r|r|r|r} \hline Basic EPS & ($0.57) & $5.1 & $5.48 & $6.0 \\ \hline Weighted Avg. Basic Shares Out. & 1,044.0 & 1,301.0 & 1,309.0 & 1,319.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r} \hline Dividends per Share & $2.0 & $2.0 & $2.0 & $2.0 \\ \hline Payout Ratio \% & NM & 39.2% & 36.6% & 33.2% \end{tabular} Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline EBITDA & 12,769.0 & 16,189.0 & 18,104.0 & 18,289.0 \\ \hline EBIT & 10,051.0 & 11,818.0 & 13,663.0 & 13,777.0 \\ \hline Effective Tax Rate \% & 142.4% & 26.3% & 26.3% & 24.2% \\ \hline Current Domestic Taxes & 1,979.0 & 3,015.0 & 3,133.0 & 2,950.0 \\ \hline Total Current Taxes & 1,979.0 & 3,015.0 & 3,133.0 & 2,950.0 \\ \hline \end{tabular} Supplemental Operating Expense Items Advertising Exp. Selling and Marketing Exp. \begin{tabular}{|r|r|r|r|} \hline 364.0 & 396.0 & 461.0 & 523.0 \\ \hline 364.0 & 396.0 & 461.0 & 523.0 \\ \hline \end{tabular} Lion Mane Balance Sheet In Millionsn except per share items. LIABILITIES \begin{tabular}{|l|r|r|r|r|} \hline Accounts Payable & 8,925.0 & 10,492.0 & 11,138.0 & 12,544.0 \\ \hline Accrued Exp. & 16,701.0 & 18,855.0 & 21,181.0 & 25,291.0 \\ \hline Short-term Borrowings & 720.0 & & & \\ \hline Curr. Port. of LT Debt & 1,265.0 & 3,754.0 & 5,407.0 & 4,155.0 \\ \hline Curr. Port. of Leases & & 1,623.0 & 1,671.0 & 1,696.0 \\ \hline Unearned Revenue, Current & 67.0 & 73.0 & 71.0 & 87.0 \\ \hline Other Current Liabilities & 16,331.0 & 18,506.0 & 22,549.0 & 24,034.0 \\ \hline Total Current Liabilities & 44,009.0 & 53,303.0 & 62,017.0 & 67,807.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Long-Term Debt & 70,802.0 & 63,918.0 & 58,157.0 & 50,721.0 \\ \hline Long-Term Leases & 642.0 & 19,707.0 & 19,807.0 & 19,427.0 \\ \hline Pension \& Other Post-Retire. Benefits & 300.0 & 313.0 & 285.0 & 250.0 \\ \hline Def. Tax Liability, Non-Curr. & 7,677.0 & 7,294.0 & 6,794.0 & 6,270.0 \\ \hline Other Non-Current Liabilities & 14,483.0 & 13,744.0 & 13,954.0 & 13,143.0 \\ \hline Total Liabilities & 137,913.0 & 158,279.0 & 161,014.0 & 157,618.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Common Stock & 17.0 & 17.0 & 17.0 & 17.0 \\ \hline Additional Paid In Capital & 45,423.0 & 45,955.0 & 46,496.0 & 47,360.0 \\ \hline Retained Earnings & 40,911.0 & 45,108.0 & 49,640.0 & 54,906.0 \\ \hline Treasury Stock & (28,199.0) & (28,206.0) & (28,149.0) & (28,144.0) \\ \hline Comprehensive Inc. and Other & 73.0 & 990.0 & 1,385.0 & 936.0 \\ \hline Total Common Equity & 58,225.0 & 63,864.0 & 69,389.0 & 75,075.0 \\ \hline & & & & \\ \hline Minority Interest & 318.0 & 306.0 & 312.0 & 306.0 \\ \hline Total Equity & 58.543.0 & 64.170.0 & 69.701.0 & 75,381.0 \\ \cline { 1 - 6 } & & & & \end{tabular} Total Liabilities And Equity \( \quad=196,4560 \quad \stackrel{222,4990}{=\quad 230,7150}=\stackrel{232,9990}{\hline} \) Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline Total Shares Out. on Balance Sheet Da & 1,295.0 & 1,302.0 & 1,310.0 & 1,322.0 \\ \hline Book Value/Share & $44.96 & $49.05 & $52.97 & $56.79 \\ \hline Tangible Book Value & (56,977.0) & (49,006.0) & (41,305.0) & (33,072.0) \\ \hline Tangible Book Value/Share & ($44.0) & ($37.64) & ($31.53) & ($25.02) \\ \hline Total Debt & 73,429.0 & 89,002.0 & 85,042.0 & 75,999.0 \\ \hline Land & 1,872.0 & 1,981.0 & 2,134.0 & 2,038.0 \\ \hline Buildings & 3,785.0 & 3,541.0 & 3,950.0 & 4,225.0 \\ \hline Machinery & 13,028.0 & 12,401.0 & 13,125.0 & 13,619.0 \\ \hline Leasehold Improvements & 5,384.0 & 5,611.0 & 6,077.0 & 6,242.0 \\ \hline Full Time Employees & 295,000 & 290,000 & 213,000 & 216,000 \\ \hline Part-Time Employees & NA & NA & 87,000 & 84,000 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Long-Term Debt & 70,802.0 & 63,918.0 & 58,157.0 & 50,721.0 \\ \hline Long-Term Leases & 642.0 & 19,707.0 & 19,807.0 & 19,427.0 \\ \hline Pension \& Other Post-Retire. Benefits & 300.0 & 313.0 & 285.0 & 250.0 \\ \hline Def. Tax Liability, Non-Curr. & 7,677.0 & 7,294.0 & 6,794.0 & 6,270.0 \\ \hline Other Non-Current Liabilities & 14,483.0 & 13,744.0 & 13,954.0 & 13,143.0 \\ \hline Total Liabilities & 137,913.0 & 158,279.0 & 161,014.0 & 157,618.0 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Common Stock & 17.0 & 17.0 & 17.0 & 17.0 \\ \hline Additional Paid In Capital & 45,423.0 & 45,955.0 & 46,496.0 & 47,360.0 \\ \hline Retained Earnings & 40,911.0 & 45,108.0 & 49,640.0 & 54,906.0 \\ \hline Treasury Stock & (28,199.0) & (28,206.0) & (28,149.0) & (28,144.0) \\ \hline Comprehensive Inc. and Other & 73.0 & 990.0 & 1,385.0 & 936.0 \\ \hline Total Common Equity & 58,225.0 & 63,864.0 & 69,389.0 & 75,075.0 \\ \hline & & & & \\ \hline Minority Interest & 318.0 & 306.0 & 312.0 & 306.0 \\ \hline Total Equity & 58.543.0 & 64.170.0 & 69.701.0 & 75,381.0 \\ \cline { 1 - 6 } & & & & \end{tabular} Total Liabilities And Equity \( \quad=196,4560 \quad \stackrel{222,4990}{=\quad 230,7150}=\stackrel{232,9990}{\hline} \) Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline Total Shares Out. on Balance Sheet Da & 1,295.0 & 1,302.0 & 1,310.0 & 1,322.0 \\ \hline Book Value/Share & $44.96 & $49.05 & $52.97 & $56.79 \\ \hline Tangible Book Value & (56,977.0) & (49,006.0) & (41,305.0) & (33,072.0) \\ \hline Tangible Book Value/Share & ($44.0) & ($37.64) & ($31.53) & ($25.02) \\ \hline Total Debt & 73,429.0 & 89,002.0 & 85,042.0 & 75,999.0 \\ \hline Land & 1,872.0 & 1,981.0 & 2,134.0 & 2,038.0 \\ \hline Buildings & 3,785.0 & 3,541.0 & 3,950.0 & 4,225.0 \\ \hline Machinery & 13,028.0 & 12,401.0 & 13,125.0 & 13,619.0 \\ \hline Leasehold Improvements & 5,384.0 & 5,611.0 & 6,077.0 & 6,242.0 \\ \hline Full Time Employees & 295,000 & 290,000 & 213,000 & 216,000 \\ \hline Part-Time Employees & NA & NA & 87,000 & 84,000 \\ \hline \end{tabular} Lion Mane Cash Flow Statement In Millions, except per share items. For the Fiscal Period Ending \begin{tabular}{|c|c|c|c|} \hline 12 months & 12 months & 12 months & 12 months \\ \hline Dec-31-2018 & Dec-31-2019 & Dec-31-2020 & Dec-31-2021 \end{tabular} \begin{tabular}{|l|r|r|r|r|} \hline Net Income & (594.0 & 6,634.0 & 7,179.0 & 7,910.0 \\ \hline Depreciation \& Amort. & 1,712.0 & 1,935.0 & 2,100.0 & 2,253.0 \\ \hline Amort. of Goodwill and Intangibles & 1,006.0 & 2,436.0 & 2,341.0 & 2,259.0 \\ \hline Depreciation \& Amort., Total & 2,718.0 & 4,371.0 & 4,441.0 & 4,512.0 \\ \cline { 1 - 5 } & & & & \\ \hline (Gain) Loss From Sale Of Assets & 86.0 & 205.0 & (269.0) & \\ \hline Asset Writedown/Restructure Costs & 6,149.0 & 231.0 & & 1,789.0 \\ \hline Stock-Based Compensation & 280.0 & 453.0 & 400.0 & 484.0 \\ \hline Other Operating Activities & 338.0 & (545.0) & 955.0 & (378.0) \\ \hline Change in Acc. Receivable & (1,139.0) & (2,158.0) & (1,510.0) & (2,703.0) \\ \hline Change In Inventories & (1,153.0) & (1,075.0) & (973.0) & 735.0 \\ \hline Change in Acc. Payable & 2,329.0 & 3,550.0 & 2,769.0 & 2,898.0 \\ \hline Change in Other Net Operating Asset: & (149.0) & 1,182.0 & 2,873.0 & 3,018.0 \\ \hline Cash from Ops. & 8,865.0 & 12,848.0 & 15,865.0 & 18,265.0 \\ \hline Capital Expenditure & & & & \\ \hline Cash Acquisitions & (2,037.0) & (2,457.0) & (2,437.0) & (2,520.0) \\ \hline Divestitures & (42,226.0) & (444.0) & (866.0) & (146.0) \\ \hline Invest. in Marketable \& Equity Securt. & 832.0 & & 840.0 & \\ \hline Other Investing Activities & 125.0 & (485.0) & (3,172.0) & (2,717.0) \\ \hline Cash from Investing & 21.0 & 47.0 & 101.0 & 122.0 \\ \hline \end{tabular} Short Term Debt Issued Long-Term Debt Issued Total Debt Issued \begin{tabular}{|r|r|r|r|} \hline 44,343.0 & 3,736.0 & 9,958.0 & 987.0 \\ \hline 44,343.0 & 3,736.0 & 9,958.0 & 987.0 \\ \hline(556.0) & (720.0) & & \\ \hline(5,522.0) & (8,336.0) & (15,631.0) & (10,254.0) \\ \hline(6,078.0) & (9,056.0) & (15,631.0) & (10,254.0) \\ \hline \end{tabular} Issuance of Common Stock Repurchase of Common Stock \begin{tabular}{|r|r|r|r|} \hline 242.0 & 210.0 & 264.0 & 549.0 \\ \hline(97.0) & (112.0) & (88.0) & (168.0) \\ \hline \end{tabular} Common Dividends Paid Total Dividends Paid \begin{tabular}{rrrr|r|} \hline(2,038.0) & (2,603.0) & (2,624.0) & (2,625.0) \\ \hline(2,038.0) & (2,603.0) & (2,624.0) & (2,625.0) \\ \hline \end{tabular} Special Dividend Paid Other Financing Activities Cash from Financing \begin{tabular}{rr|r|r|r|} \hline 447.0 & 171.0 & 425.0 & 155.0 \\ \hline 36,819.0 & (7,654.0) & (7,696.0) & (11,356.0) \\ \hline \end{tabular} Foreign Exchange Rate Adj. Net Change in Cash \begin{tabular}{rrrr|} (4.0) & & & \\ \hline 2,395.0 & 1,8550 & 2,6350 & 1,648.0 \\ \hline \hline \end{tabular} Supplemental Items \begin{tabular}{|l|r|r|r|r|} \hline Cash Interest Paid & 2,803.0 & 2,954.0 & 2,904.0 & 2,469.0 \\ \hline Cash Taxes Paid & 2,383.0 & 2,717.0 & 2,929.0 & 3,195.0 \\ \hline Change in Net Working Capital & (6,975.0) & (2,318.0) & (3,744.0) & (5,049.0) \\ \hline Net Debt Issued & 38,265.0 & (5,320.0) & (5,673.0) & (9,267.0) \\ \hline \end{tabular} 3) What was the net working capital in 2018,2020 , and 2021? Any observations or inferences you'd like to share? 4) How much cash came from operations each year (rather than from financing and/or investing) during the periods from 2018 through 2021 (4 numbers for this question)? What do you notice, particularly with the changing economy during that period of time
