Luther Corporation

Consolidated Balance Sheet

December $31,2012$ and $2011($in $ millions$)$

Assets $20122011$ Liabilities and Stockholders' Equity $20122011$

Current Assets Current Liabilities

Cash $63\mathrm{.}658\mathrm{.}5$ Accounts payable $87\mathrm{.}673\mathrm{.}5$

Accounts receivable $55\mathrm{.}539\mathrm{.}6$ Notes payable $/$

short$-$term debt $10\mathrm{.}59\mathrm{.}6$

Inventories $45\mathrm{.}942\mathrm{.}9$ Current maturities of long$-$term debt $39\mathrm{.}936\mathrm{.}9$

Other current assets $6\mathrm{.}03\mathrm{.}0$ Other current liabilities $6\mathrm{.}012\mathrm{.}0$

Total current assets $171\mathrm{.}0144\mathrm{.}0$ Total current liabilities $144\mathrm{.}0132\mathrm{.}0$

Long$-$Term Assets Long$-$Term Liabilities

Land $66\mathrm{.}662\mathrm{.}1$ Long$-$term debt $239\mathrm{.}7168\mathrm{.}9$

Buildings $109\mathrm{.}591\mathrm{.}5$ Capital lease obligations $------$

Equipment $119\mathrm{.}199\mathrm{.}6$ Total Debt $239\mathrm{.}7168\mathrm{.}9$

Less accumulated

depreciation $(56\mathrm{.}1)(52\mathrm{.}5)$ Deferred taxes $22\mathrm{.}822\mathrm{.}2$

Net property, plant, and equipment $239\mathrm{.}1200\mathrm{.}7$ Other long$-$term liabilities $------$

Goodwill $60\mathrm{.}0--$ Total long$-$term liabilities $262\mathrm{.}5191\mathrm{.}1$

Other long$-$term assets $63\mathrm{.}042\mathrm{.}0$ Total liabilities $406\mathrm{.}5323\mathrm{.}1$

Total long$-$term assets $362\mathrm{.}1242\mathrm{.}7$ Stockholders' Equity $126\mathrm{.}663\mathrm{.}6$

Total Assets $533\mathrm{.}1386\mathrm{.}7$ Total liabilities and Stockholders' Equity $533\mathrm{.}1386\mathrm{.}7$

$11.$ If on December $31,2011$ Luther has $8$ million shares outstanding trading at $$15$ per share, then what was Luther's market$-$to$-$book ratio?

$12.$ If on December $31,2011$ Luther has $8$ million shares outstanding trading at $$15$ per share, then what was Luther's enterprise value?

Enterprise value $=$ Market value of equity $+$ Debt $-$ Cash