The Procter & Gamble Corporation is used as an example for chapter 8. There are several tables and charts of financial and accounting data. Use the EOY values based on those projected for 2018 (not actual for 2017). Assume the same number of shares outstanding and a stock price of $91.18. EPS is calculated as NI/shares. Accomplish this one step. Calculate the corporate valuation of P&G for 2018 using the 4 evaluation methods. You must show your work to derive the valuation for credit. TABLE 8-7 P&G's Actual Balance Sheets for Fiscal 2016 and 2017 (in millions) Balance Sheet 6/30/16 6/30/17 Percent Change Assets Cash and Equivalents $7,102 $5,569 -22% Accounts Receivable 5,880 4,594 -22% Inventory 4,716 4,624 -2% Other Current Assets 16,084 11,707 -27% Total Current Assets 33,782 26,494 -22% Property Plant & Equipment 19,385 19,893 3% Goodwill 44,350 44,699 1% Intangibles 24,527 24,187 -1% Other Long-Term Assets 5,092 5,133 1% Total Assets 127,136 120,406 -5% Liabilities Accounts Payable 16,774 16,656 -1% Other Current Liabilities 13,996 13,554 -3% Total Current Liabilities 30,770 30,210 -2% Long-Term Debt 18,945 18,038 -5% Other Long-Term Liabilities 19,438 16,380 -16% Total Liabilities 69,153 64,628 -7% Equity Common Stock 4,009 4,009 0% Retained Earnings 87,953 96,124 9% Treasury Stock (82,176) (93,715) 14% Paid in Capital & Other 48,197 49,360 2% Total Equity 57,983 55,778 -4% Total Liabilities and Equity $127,136 $120,406 -5% TABLE 8-6 P&G's Actual Income Statements for 2016-2017 (in millions) Income Statement 6/30/16 6/30/17 Percent Change Revenues $65,299 $65,058 -0.37% Cost of Goods Sold 32,909 32,535 -1.14% Gross Profit 32,390 32,523 0.41% Operating Expenses 18,442 18,801 1.95% EBIT 13,948 13,722 -1.62% Interest Expense 579 465 -19.69% EBT 13,369 13,257 -0.84% Tax 3,342 3,063 -8.35% Non-Recurring Events 481 5,132 966.94% Net Income 10,508 15,326 45.85% TABLE 8-1 P&G Input Data Needed for EPS/EBIT Analysis P&G Input Data The Number $ Amount of Capital Needed $5,000 million EBIT Range $10,000 to $18,000 million Interest Rate 5% Tax Rate 23% Stock Price $94.17 # Shares Outstanding 2,550 million