The balance sheet and income statement of Eastland Products, Inc., are as follows:
Using these data, determine the following:
a. Earnings per share
b. Price-to-earnings ratio
c. Book value per share
d. Market-to-book ratio
e. How much of the retained earnings total was added during 2006?
f. Show Eastland's new balance sheet after the company sells 1 million new common shares in early 2007 to net $30 a share. Part of the proceeds, $10 million, is used to reduce current liabilities, and the remainder is temporarily deposited in the company's bank account. Later, this remaining amount (along with additional long-term debt financing) will be invested in new manufacturing facilities.