Coca-Cola's balance sheet for December 1998 is summarized (in millions of dollars) for problems 1 through 9:

Consider the assets on Coca-Cola's balance sheet and answer the following questions:

a. Which assets are likely to be assessed closest to market value?

Explain.

b. Coca-Cola has net fixed assets of $3,669 million. Can you estimate how much Coca-Cola paid for these assets? Is there any way to know the age of these assets?

c. Coca-Cola seems to have far more invested in current assets than in fixed assets. Is this significant? Explain.

d. In the early 1980s, Coca-Cola sold off its bottling operations, and the bottlers became independent companies. How would this action have impacted the assets on Coca-Cola's balance sheet? (The manufacturing plants are most likely to be part of the bottling operations.)

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Cash and near-cash Marketable securities $ 1,648 Accounts payable $ 3,141 1,049 Short-term borrowings 4,462 Accounts receivable 1,666 Other short-term liabilities 1,037 Other current assets Current assets 2,017 Current liabilities 8,640 6,380 Long-term borrowings 687 Long-term investments 1,863 Other long-term liabilities 1,415 Depreciable fixed assets 5,486 Noncurrent liabilities 2,102 Nondepreciable fixed assets 199 Accumulated depreciation 2,016 Share capital (paid-in) 3,060 Net fixed assets 3,669 Retained earnings 5,343 Other assets Total Assets 7,233 Shareholder's equity 8,403 $19,145 Total Liabilities and Equity $19,145