P46 EX fx 12 A B C D E F G H K L M 29 P/E Ratio for the industry 10.00 10.00 10.00 30 Price per share 31 S 6.49 S 7.00 S 7.12 32 Cash and Securities $ 68.2 2.00% $ 74.3 2.0% 33 Accounts Receivable $ 494.5 14.50% $ 539.0 14.5% 34 Inventories $ 460.4 13.50% $ 501.8 13.5% 35 Total Current Assets $1,023.1 $ 1,115.2 SSSS 74.3 2% 539.0 15% 501.8 14% $ 1,115.2 36 37 Property, Plant & Equipment 38 Accumulated Depreciation 39 Net Fixed Assets 40 Total Assets 41 $3,341.0 $ 3,717.3 $ 3,717.3 $2,464.6 $ 2,762.0 $ 2,762.0 $ 876.4 25.70% $ $1,899.5 $ 955.3 2,070.5 25.7% $ 955.3 25.7% $ 2,070.5 42 Accounts Payable and Accruals $ 177.3 5.20% $ 193.3 5.2% 43 Notes Payable 44 Total Current Liabilities $ 368.1 Carryover S 368.1 $ 545.4 S 561.4 45 Long Term Debt $ 426.4 Carryover + AF $ 518.3 46 Common Stock 47 Retained Earnings 48 Total Liabilities and Equity 49 50 Total Assets $ 600.0 Carryover $ 600.0 ssss S 193.3 368.1 5.2% 561.4 517.3 Note difference in long-term debt. Do you know why? 600.0 $ 327.73 $ 390.75 $ 391.79 $1,899.5 $ 2,070.5 $ 2,070.5 $1,899.5 $ 2,070.5 $ 2,070.5 51 Total Liabilities and Equity $1,899.5 $ 2,070.5 $ 2,070.5 52 53 AF $ 91.96 $ 90.92 Note difference in AF. Do you know why? 54 55 Book Value Leverage 46.0% 56 Market Value of Equity 57 Market Value Leverage $ 974.12 S 52.3% 1,050.40 43.8% 49.3% 52.2% $1,067.70 48.4% 58 In both cases, leverage is increasing when compared to the firm's historical value. Why?