Some balance sheet information is shown here (all values n millions of dollars). see at the endquestions: a. what change in the book value of the company's equity took place at the end of 2015 ? b. is the company's market-to-book ratio meaningful? is its book debt-equity ratio meaningful? explain. c. find the company's other financial statements from that time online. what was the cause of the change to its book value of equity at the end of 2015 ? d. does the company's book value of equity in 2016 imply that it is unprofitable? explain. solution explain how to calculate a .. how did they come up with $2.104a. what change in the book value of the company's equity took place at the end of 2015 ? the book value of equity decreased by $2.104 billion from the end of the previous year, and was negativeb. is the company's market-to-book ratio meaningful? is its book debt-equity ratio meaningful? explain. (select all the choices that apply.)a. because the book value of equity is negative in this case, the company's market-to-book ratio and its book debt-equity ratio are not meaningful. c. because the book value of equity is negative in this case, the company's market debt-equity ratio may be used in comparison. c. find the company's other financial statements from that time online. what was the cause of the change to its book value of equity at the end of 2015 ? information from the statement of cash flows explain that the decrease of book value of equity resulted from an increase in debt that was used to repurchase$2.104 billion worth of the firm's shares. your answer is correct. d. does the company's book value of equity in 2016 imply that it is unprofitable? explain. (select all the choices that apply.)c. negative book value of equity does not necessarily mean the firm is unprofitable. your answer is correct. d.if a firm borrows to repurchase shares or invest in intangible assets (such as r& d), it can have a negative book value of equity. balance sheet: 3/31/201612/31/20159/30/20156/30/20 15assetscurrent assetscash and cash equivalents293300255232net receivables401362385460inventory374 342437306other current assets60435345total current assets1,1281,0471,1301,043long-term investments12897—200property, plant, and equipment9799919951,052goodwill7447 48736742other assets777832832919919797total assets3,7563,7153,7803,834liabiliti escurrent liabilitiesaccounts payable8761,467922980short/current long-term debt4102173288other current current liabilities1,2861,4691,0951,268long -term debt2,3812,124474475other liabilities435574559551total liabilities4,1024,1672,1282,294tota l shareholder's equity−346−4521,6521,540total liabilities and shareholder's equity