You just started a new job as a Finance Manager at XYZ Corp. As you are starting to get acquainted with the company, you requested the Balance Sheet as of December 31, 2016, the 2016 Income Statement and a few other items that you deemed appropriate. You can find all of those in the table below and in the Excel file attached. Statement for 2016 S13,000,000 COGS S30,000,000 Other expenses $5,000,000 Depreciation $2,000,000 EBIT $6,000,000 $2,000,000 Taxable income $4,000,000 Taxes (40%) $1,600,000 Net income S2400,000 Dividends S600,000 Add to RE S1,800,000 Balance Sheet, Dec 3 2016 Liabilities & Owners' Equity Current Assets Current Liabilities Cash S500,000 Accounts Payable $1,000,000 Accounts Receivable $1,000,000 Notes Payable $3,000,000 Inventory $2,000,000 Total CL S4,000,000 Long Term Debt $10,000,000 Total CA $3,500,000 Fixed Assets Owners' Equity Net PP&E $25,000,000 Common Stock S6,500,000 Retained Earnings S8,000,000 Total Equity $14,500,000 Total L & OE Total Assets $28,500,000 $28,500,000 Additional information Taxes Market-to-Book Ratio 1.25 Shares outstanding 1,000,000 Note: The Market-to-Book Ratio is equal to the Market Value per share divided by the Book Value per Share. The Book Value per Share is the Total owners Equity divided by the number of outstanding shares This and other financial statements ratios can be found on Chapter 3 in the textbook