MUST SHOW ALL WORK 1.1 Rodgers, Inc. has current assets of $30,000, net fixed assets of $60,000, current liabilities of $16,000, and long-term debt of $54,000. Rodgers, Inc. also has sales of $440,000, costs of $210,000, depreciation expense of $63,000, interest expense of $38,000, and a tax rate of 40%. Also, suppose that the company paid out $30,000 in cash dividends and has 20,000 shares of common stock outstanding. a. What is the value of shareholders' equity? b. How much is net working capital? c. What is the net income for this firm? d. What is the addition to retained earnings? 1.2 Johnson Systems, Inc. purchased new cloaking machinery three years ago for $5 million. The machinery can be sold today to a competing company for $3.5 million. Johnson System's current balance sheet shows net fixed assets of $2,000,000, current liabilities of $750,000, and net working capital of $650,000. If all the current assets were liquidated today, the company would receive $1.50 million in cash. a. What is the book value of Johnson System's assets today? b. What is the market value of Johnson System's assets today