Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) 2006 2006 2005 Assets Current Assets Cash 56.9 88.1 73.5 Liabilities and 2005 Stockholders' Equity Current Liabilities 58.5 Accounts payable Notes payable/ 39.6 short-term debt Current maturities of 42.9 long-term debt 3.0 Other current liabilities 144.0 Total current liabilities Accounts receivable 56.1 10.3 9.6 Inventories Other current assets Total current assets 45.2 5.8 164 39.4 6.0 143.8 36.9 12.0 132.0 226.6 Long-Term Liabilities Long-term debt Capital lease obligations 66.8 108 115.3 168.9 62.1 91.5 99.6 Long-Term Assets Land Buildings Equipment Less accumulated depreciation Net property, plant, and equipment Goodwill Other long-term assets Total long-term assets (57) (52.5) Deferred taxes 22.8 22.2 233.1 60.0 63.0 356.1 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 242.7 Stockholders' Equity 249.4 393.2 126.9 191.1 323.1 63.6 Total liabilities and 386.7 Stockholders' Equity Total Assets 520.1 520.1 386.7 Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2006 is closest to