(Learning Objectives 3, 4: Using the accounting equation; evaluating business operations) Tinman Doughnuts has current assets of €270 million; property, plant and equipment of €470 million; and other assets totaling €110 million. Current liabilities are

€110 million and long-term liabilities total €370 million.

❙ Requirements 1 Use these data to write Tinman’s accounting equation.

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

3 How much does Tinman owe creditors?

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