Hello sir 

I have seen previous solutions for this question but I need more details to this question a, b, c based on the above values and please explain how the solution is to understand it and what equations are used in the solution In addition to that in question B, I need a details how to Analyze and Record treasury stock transactions according to the above values Thank you

Case 1: Kellogg Company Kellogg Company is the world's leading producer of ready-to-eat cereal products. In recent years, the company has taken nu- merous steps aimed at improving its profitability and earnings per share. Presented below are some basic facts for Kellogg. (in millions) 2014 Net sales Net income Total assets Total liabilities Common stock, $0.25 par value Capital in excess of par value Retained earnings Treasury stock, at cost Number of shares outstanding (in millions) $14,580 632 15,153 12,302 105 678 2013 $14,792 1,807 15,474 11,867 105 626 6,689 3,470 358 6,749 2,999 363 Instructions (a) What are some of the reasons that management purchases its own stock? (b) Explain how earnings per share might be affected by treasury stock transactions (c) Calculate the debt to assets ratio for 2013 and 2014, and discuss the implications of the change