(Learning Objectives 3, 4: Using the accounting equation; evaluating business operations) Hombran Doughnuts has current assets of $290 million; property, plant and equipment of $490 million; and other assets totaling $150 million. Current liabilities are

$150 million and long-term liabilities total $310 million.

❙ Requirements 1 Use these data to write Hombran Doughnuts’ accounting equation.

2 How much in resources does Hombran have to work with?

3 How much does Hombran owe creditors?

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