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Here is a simplified balance sheet for Locust Farming: Locust Farming Balance Sheet ($ in millions)...

Here is a simplified balance sheet for Locust Farming: Locust Farming Balance Sheet ($ in millions) Current assets $ 42,536 Current liabilities $ 29,743 Long-term assets 46,856 Long-term debt 27,764 Other liabilities 14,341 Equity 17,544 Total $ 89,392 Total $ 89,392 Locust has 657 million shares outstanding with a market price of $95 a share.

a. Calculate the company’s market value added. (Enter your answers in millions.)

b. Calculate the market-to-book ratio. (Round your answer to 2 decimal places.)

c. How much value as the company created for its shareholders as a percent of shareholders’ equity, that is, the net capital contributed to the firm by its shareholders? (Enter your answer as a percentage rounded to the nearest whole number.)

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