Rose has been hired as an analyst to value a potential acquisition target - Henley Corporation, which is a privately held company specializing in lawn care products and services. The most recent financial statements are shown below. Use the data to complete the questions listed on the next page. |Income statement (in million) 2016 Balance Sheet (in million) 2016 $ Net Sales Costs (except depreciation) Depreciation Total operating costs Earning before int. & tax | Less interest Earning before taxes | Taxes Net income before pref. div. Preferred div. Net income avail. for com. div. Common dividends Addition to retained earnings 800.0 $ 576.0 $ 60.0 $ 636.0 164.0 $ 32.0 132.0 $ 52.8 $ 79.2 $ 1.4 $ 77.9 $ 31.1 $ 46.7 Cash Accounts receivable Inventories Short-term Investment Total current assets Net plant and equipment Total Assets 8.0 80.0 160.0 20.0 268.0 600.0 $ 868.0 16.0 40.0 40.0 96.0 300.0 $ 15.0 Number of shares (in millions) Dividends per share Accounts Payable Accruals Notes Payable Total current liabilities Long-term bonds Preferred stock Common Stock (Par plus PIC) Retained earnings Shareholder's equity Total liabilities and equity 10 $ 3.11 257.0 200.0 $ 457.0 $ 868.0