You are a senior portfolio manager with Reilly Investment Management reviewing the biweekly printout of equity value screens prepared by a brokerage firm. One of the screens used to identify companies is a “low long-term debt/total long-term capital ratio.” The printout indicates this ratio for Lubbock Corporation is 23.9%. Your reaction is that Lubbock might be a potential takeover target and you proceed to analyze Lubbock s balance sheet reproduced below: LUBBOCK CORPORATION Condensed Balance Sheet ($ millions) December 31, Year 7 Assets Cash and equivalents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 100 Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350 Marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150 Inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800 Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400 Total current assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Plant and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . 1,800 Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$3,600 Liabilities and Equity Note payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 125 Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175 Taxes payable . . . . . . . . .