Use the balance sheet and income statement below:

CLANCYS DOG BISCUIT CORPORATION
Balance Sheet as of December 31, 2021 and 2020
(in millions of dollars)
Assets	2021				2020				Liabilities and Equity	2021				2020
Current assets:									Current liabilities:
Cash and marketable securities	$	73			$	72			Accrued wages and taxes	$	52			$	42
Accounts receivable		194				182			Accounts payable		154				142
Inventory		314				292			Notes payable		132				132
Total	$	581			$	546			Total	$	338			$	316
Fixed assets:									Long-term debt	$	569			$	558
Gross plant and equipment	$	1,076			$	884			Stockholders equity:
Less: Accumulated depreciation		148				114			Preferred stock (6 thousand shares)	$	6			$	6
Net plant and equipment	$	928			$	770			Common stock and paid-in surplus (100 thousand shares)		120				120
Other long-term assets		136				136			Retained earnings		612				452
Total	$	1,064			$	906			Total	$	738			$	578
Total assets	$	1,645			$	1,452			Total liabilities and equity	$	1,645			$	1,452

CLANCYS DOG BISCUIT CORPORATION
Income Statement for Years Ending December 31, 2021 and 2020
(in millions of dollars)
	2021				2020
Net sales	$	894			$	804
Less: Cost of goods sold		390				353
Gross profits	$	504			$	451
Less: Other operating expenses		48				42
Earnings before interest, taxes, depreciation, and amortization (EBITDA)	$	456			$	409
Less: Accumulated depreciation (2018)		34				32
Earnings before interest and taxes (EBIT)	$	422			$	377
Less: Interest		49				43
Earnings before taxes (EBT)	$	373			$	334
Less: Taxes		132				112
Net income	$	241			$	222
Less: Preferred stock dividends	$	6			$	6
Net income available to common stockholders	$	235			$	216
Less: Common stock dividends		75				75
Addition to retained earnings	$	160			$	141
Per (common) share data:
Earnings per share (EPS)	$	2.35			$	2.16
Dividends per share (DPS)	$	0.75			$	0.75
Book value per share (BVPS)	$	7.32			$	5.72
Market value (price) per share (MVPS)	$	8.35			$	6.20