Some balance sheet information is shown here (all values in millions of dollars).

a) What change in the book value of the company's equity took place at the end of 20152015?

b)Is the company's market-to-book ratio meaningful? Is its book debt-equity ratio meaningful? Explain.

c)Find the company's other financial statements from that time online. What was the cause of the change to its book value of equity at the end of

2015?

d)Does the company's book value of equity in 2016 imply that it is unprofitable? Explain.

3/31/2016 12/31/2015 9/30/2015 6/30/2015 293 401 374 255 385 437 53 1,130 60 1,128 128 979 744 777 Balance Sheet: Assets Current Assets Cash and cash equivalents Net receivables Inventory Other current assets Total Current Assets Long-term investments Property, plant, and equipment Goodwill Other assets Total Assets Liabilities Current Liabilities Accounts payable Short/current long-term debt Other current liabilities Total Current Liabilities Long-term debt Other liabilities Total Liabilities Total Shareholder's Equity Total Liabilities and Shareholder's Equity 300 362 342 43 1,047 97 991 748 817 3,700 232 460 306 45 1,043 200 1,052 742 797 3,834 995 736 912 3,773 3,756 876 410 1,467 2 922 173 980 288 1,286 2,381 435 4,102 - 346 3,756 1,469 2,124 574 4,167 - 467 3,700 1,095 474 559 2,128 1,645 3,773 1,268 475 551 2,294 1,540 3,834 3/31/2016 12/31/2015 9/30/2015 6/30/2015 293 401 374 255 385 437 53 1,130 60 1,128 128 979 744 777 Balance Sheet: Assets Current Assets Cash and cash equivalents Net receivables Inventory Other current assets Total Current Assets Long-term investments Property, plant, and equipment Goodwill Other assets Total Assets Liabilities Current Liabilities Accounts payable Short/current long-term debt Other current liabilities Total Current Liabilities Long-term debt Other liabilities Total Liabilities Total Shareholder's Equity Total Liabilities and Shareholder's Equity 300 362 342 43 1,047 97 991 748 817 3,700 232 460 306 45 1,043 200 1,052 742 797 3,834 995 736 912 3,773 3,756 876 410 1,467 2 922 173 980 288 1,286 2,381 435 4,102 - 346 3,756 1,469 2,124 574 4,167 - 467 3,700 1,095 474 559 2,128 1,645 3,773 1,268 475 551 2,294 1,540 3,834