Renegade Clothing is struggling to meet andysts' forecasts. Its early December 2024, and the year-end projections are in. Listed below are the projections for the year ended 2024 and the comparable actual amounts for 2023 . Analysts forecast earnings per share for 2024 to be $0.95 per share. it looks tike earnings per thare will fall short of expectations in 2024 Ronold Outiow, the director of marketing, has a creative idea to improve eamings per share and the return on equity He proposes the company borrow additionol funds and use the proceeds to purchase some of its own stock-treasury shares is this a good idea? Required: 1. Colculate the projected earnings per share and return on equity for 2024 before any purchase of stock Now assume Renegade Clothing borrows SI million and uses the money to purchase 100,000 shares of its own stock at S10 per share The projections for 2024 will change as follows: 2. Calculate the new projected eamings per share and return on equity for 2024, assuming the company goes through with the treasury stock purchase. (Hlint in computing earnings per share, average shares outstanding is now 900,000=(850,000+950,000)/ 2.) 3. Does the purchase of teasury stock near year-end improve earnings per share and the retum on equity ratio