E8-45. Analyzing Shareholders' Equity Transactions Using Graphical Data The following dashboard was developed using PowerBI with data collected from 10-K filings for the S&P 500 for fiscal 2010 through 2018. Access the dashboard at the myBusiness Course website to answer the requirements. Consumer Staples Information Technology Consumer Discretionary Industrials Health Care Materials Real Estate Energy Telecommunication Services Utilities Median Market to Book Ratio by Sector Median Dividend Payout and ROA Div Payout ROA 0.4 0.3 0.2 0.1 Financial 0.0 2010 2012 2014 2016 2018 0 1 2 3 4 5 Consumer Staples Materials Financials Industrials Health Care Consumer Discretionary Telecommunication Services Median Treasury Stock/Equity (%) by Sector 6 Energy Information Technology Real Estate Utilities. 0.0 0.1 4 2 Median Market to Book Ratio 0.2 0 2010 2012 2014 2016 2018 a. Which industry sector exhibits the highest market-to-book ratios, on average? Does the proportion of treasury shares held by firms in this sector explain the high market-to-book ratio? b. What industry sectors exhibit the lowest market-to-book ratios? What might explain low ratios in these sectors? c. What pattern do we observe in market-to-book ratios over time? d. From the graphic of dividend payout ratio and return on assets, we might conclude that there is no relation between the two metrics. From the online dashboard, display the graphic for the Energy sector. What relation do we observe and what might explain this. Hint: Is this relation mechanical in any way