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Question 1 (Total 10 points) Balance Sheet (in Millions, except for Per Share Data) Year Ended 31 December 2012 2011 350.0 64.0 711.0 770.0 1,968.0 Assets Current assets Cash and equivalents 282.0 Marketable securities 70.0 Accounts receivable Inventory 846.0 780.0 Total current assets 1,905.0 Gross fixed assets 4,275.0 3,752.0 Accumulated depreciation -1.176.0 -906.0 Net fixed assets 3.099.0 2,846.0 Total assets 5,067.0 4,751.0 Liabilities and shareholders' equity Current liabilities Accounts payable 476.0 443.0 Wages payable 149,0 114.0 Accrued expenses 425.0 410.0 Total current liabilities 1,050.0 967.0 Long-term debt 1.600.0 1.450.0 Common stock 525.0 525.0 Retained earnings 1.892.0 1,809.0 Total shareholders' equity 2,417.0" 2,334,0 Total liabilities and shareholders' equity 5,067.0 4,751.0 The above are Beta Inc.'s balance sheets in 2011 and 2012. Reorganize the balance sheets. Write down the intermediate steps that lead to your answer in the spaces provided. a) (4 points) Operating assets and operating liabilities in 2011 and 2012. b) (4 points) Financial obligations and financial assets in 2017 and 2012. c) (2 points) Complete the table below: Reorganized balance sheet 2012 2011 Operating assets Operating liabilities Net operating assets (NOA) Financial obligations Financial assets Net financial obligations (NFO) Shareholders' equity (CSE) NFO+CSE

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