Hooper, Inc., has current assets of $200 million; property, plant, and equipment of $350 million; and other assets totaling $160 million. Current liabilities are $170 million and long-term liabilities total $320 million.
1. Use these data to write Hooper's accounting equation.
2. How much in resources does Hooper have to work with?
3. How much does Hooper owe creditors?
4. How much of the company's assets do the Hooper stockholders actually own?