The Ellis Corporation has heavy lease commitments. Prior to SFAS No. 13, it merely footnoted lease obligations in the balance sheet, which appeared as follows: Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. In $ millions In $ millions Current assets Fixed assets S 70 Current liabilities S 10 40 S 50 90 140 Long-term liabilities - Total liabilities Stockholders' equity Total liabilities and stockholders' equity $140 Total assets The footnotes stated that the company had $32 million in annual capital lease obligations for the next 15 years. a. Discount these annual lease obligations back to the present at a 7 percent discount rate. (Do not round intermediate calculations. Round your answer to the nearest million. Input your answer in millions of dollars (e.g., $6,100,000 should be input as "6)) PV of lease obligations milion b. Construct a revised balance sheet that includes lease obligations. (Do not round intermediate calculations. Round your answers to the nearest million. Input your answer in millions of dollars (e.g., $6,100,000 should be input as Balance Sheet (in $ millions) Current assets Fixed assets Leased property under capital lease Currentiabilities Long-terrn liabilities Obligations under capital lease Total llabilities Stockholders equity Total liabilities and Stockholders equity Total assets c. Compute the total debt to total asset ratio for the original and revised balance sheets. (Input your answers as a percent rounded to 2 decimal places.) Original Revised d. Compute the total debt to total equity ratio for the original and revised balance sheets. (Input your answers as a percent rounded to 2 decimal places.)