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Quantitative Problem: Rosnan Industries' 2017 and 2016 balance sheets and income statements are shown below....

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Quantitative Problem: Rosnan Industries' 2017 and 2016 balance sheets and income statements are shown below. All of the balance of Cash and Equivalents is an operating asset. Balance Sheets: 2017 2016 Cash and equivalents $100 585 Accounts receivable 275 200 Inventories 375 Total current assets $750 $635 Net plant and equipment 2,000 1,490 Total assets $2,750 $2,125 250 $150 75 150 $85 50 75 Accounts payable Accruals Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity $210 290 $375 450 1,225 700 1,225 400 $2,750 $2,125 Income Statements: 2016 2017 $2,000 1,250 $750 100 $1,500 1,000 $500 75 Sales Operating costs excluding depreciation EBITDA Depreciation and amortization EBIT Interest EBT Taxes (40%) Net income $650 62 $425 45 $380 $588 235 152 $228 $353 $48 Dividends paid Addition to retained earnings $53 $300 $180 90 90 Shares outstanding Price WACC $20.83 $18.33 12.00% Using the financial statements given earlier, what is Rosnan's 2017 economic value added (EVA)? Round your answer to the nearest cent. Do not round intermediate calculations

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