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2. Comment on Kelly's preference of the corporate value model. Based on her approach, what would Orange Brite's selling price per share be if they were to issue 30 million shares? Table 2 Orange Brite International's 5-year Income Statements 2011 2012 2013 2014 2015 Revenue COGS (excluding depreciation) Gross Profit Depreciation Operating Expenses Earnings Before Interest & Taxes Interest Expense Earnings Before Taxes Income Taxes Net Income 100,700,000 45,315,000 55,385.000 3,061,646 33,231,000 19.092,354 1.743,025 17.349,328 6.939,731 10,409,597.0 225,000,000 108,000,000 117,000,000 3,600,000 72,000,000 41,400,000 2.760,000 38,640,000 15,456,000 23,184,000.0 300,250,000 147,122,500 153,127,500 4,205,746 87,072,500 61,848,254 1,876,865 59,971,389 23,988,556 35,982,833.5 400,150,000 184,069,000 216,081,000 7.042,640 141,653,100 67.385,260 5,165,760 62.219,500 24,887,800 37,331,700.0 500,000,000 255,000,000 245,000,000 9,703,125 140,000,000 95,296,875 8,006,250 87.290.625 34,916,250 52,374,375.0 Table 3 2014 2015 Orange Brite International's 5-year Balance Sheets 2011 2012 2013 25.049,832 39,000,000 45,573,081 30.616.462 36,000,000 42,067.459 Current Assets Fixed Assets 57,621,600 70,426,400 64,687,500 97,031,250 Total Assets 55,666,294 75,000,000 87,640,541 128,048,000 161,718,750 4.329,601 4,600,000 3,128,10B 8,609,600 13,343,750 Current Liabilities Long-Term Debt (014% per year) 26,336,694 18.400,000 12,512.432 34,438,400 53,375,000 25,000,000 52,000,000 72,000,000 85,000,000 95,000,000 Owners' Equity Total Liabilities and Owners' Equity 55,666,294 75,000,000 87.640.541 128,048.000 161.718.750 2. Comment on Kelly's preference of the corporate value model. Based on her approach, what would Orange Brite's selling price per share be if they were to issue 30 million shares? Table 2 Orange Brite International's 5-year Income Statements 2011 2012 2013 2014 2015 Revenue COGS (excluding depreciation) Gross Profit Depreciation Operating Expenses Earnings Before Interest & Taxes Interest Expense Earnings Before Taxes Income Taxes Net Income 100,700,000 45,315,000 55,385.000 3,061,646 33,231,000 19.092,354 1.743,025 17.349,328 6.939,731 10,409,597.0 225,000,000 108,000,000 117,000,000 3,600,000 72,000,000 41,400,000 2.760,000 38,640,000 15,456,000 23,184,000.0 300,250,000 147,122,500 153,127,500 4,205,746 87,072,500 61,848,254 1,876,865 59,971,389 23,988,556 35,982,833.5 400,150,000 184,069,000 216,081,000 7.042,640 141,653,100 67.385,260 5,165,760 62.219,500 24,887,800 37,331,700.0 500,000,000 255,000,000 245,000,000 9,703,125 140,000,000 95,296,875 8,006,250 87.290.625 34,916,250 52,374,375.0 Table 3 2014 2015 Orange Brite International's 5-year Balance Sheets 2011 2012 2013 25.049,832 39,000,000 45,573,081 30.616.462 36,000,000 42,067.459 Current Assets Fixed Assets 57,621,600 70,426,400 64,687,500 97,031,250 Total Assets 55,666,294 75,000,000 87,640,541 128,048,000 161,718,750 4.329,601 4,600,000 3,128,10B 8,609,600 13,343,750 Current Liabilities Long-Term Debt (014% per year) 26,336,694 18.400,000 12,512.432 34,438,400 53,375,000 25,000,000 52,000,000 72,000,000 85,000,000 95,000,000 Owners' Equity Total Liabilities and Owners' Equity 55,666,294 75,000,000 87.640.541 128,048.000 161.718.750