E1-29B. (Learning Objectives 2, 3: Using the accounting equation; evaluating business operations) Tripple Doughnuts has current assets

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E1-29B. (Learning Objectives 2, 3: Using the accounting equation; evaluating business operations) Tripple Doughnuts has current assets of €250 million; property, plant and equipment of €420 million; and other assets totaling €100 million. Current liabilities are €100 million and long-term liabilities total €320 million.

Requirements 1. Use this data to write Tripple’s accounting equation.

2. How much in resources does Tripple have to work with?

3. How much does Tripple owe creditors?

4. How much of the company’s assets do the Tripple shareholders actually own?

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