The following is a real estate investor’s balance sheet (in millions)

as of December 31, 2014. All the businesses in her real estate empire were separately incorporated for liability reasons, and many of them were heavily leveraged, or debt-financed. Calculate the debt ratios for each of the properties, then answer the questions.

a. What was the mogul’s highest-priced asset?

b. What was mogul’s net worth for the Serena’s Shuttle? Why?

c. On which asset was the mogul’s net worth the greatest?

d. Which asset carried the most debt?

e. Which properties did the mogul own free of debt?

f. On which properties did the mogul owe one dollar of debt for each dollar of the asset?

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Asset Estimated Worth Debt Net Worth Debt Ratio The Pyramids of Gaza $820 $820 $0 1.0 East Side Yards 450 175 30 Phoenix Casino 640 275 345 Mogul's Lair Casino 600 415 6 Serena's Shuttle 400 400 0 Stefania's Tower 200 100 0 Cash 130 160 -30 Igor's Condos 115 5 45 Marketable Securities 90 75 15 Serena's Palace 80 80 0 Stefania's Plaza 70 50 3 Grand Brand Hotel (50%) 70 30 40 Igor Regency 65 85 -20 Igor Plaza Coops 45 0 25 Mogul Air 40 0 30 Personal Transportation 40 0 30 Personal Housing 30 40 -9 Total (in millions) $_ $ $