Air France–KLM (AF), a Franco-Dutch company, prepares its financial statements according to International Financial Reporting Standards. AF‘s financial statements and disclosure notes for the year ended December 31, 2017, are available in Connect. This material is also available under the Finance link at the company’s website (www.airfranceklm.com). 

Required: 

1. Read Notes 23 and 35.4. Focusing on investments accounted for at fair value through profit and loss (FVTPL), 

a. As of December 31, 2017, what is the total balance of those investments in the balance sheet? 

b. How much of that balance is classified as current and how much as noncurrent? 

c. How much of the fair value of those investments is accounted for using level 1, level 2, and level 3 inputs of the fair value hierarchy? Given that information, assess the reliability (representational faithfulness) of this fair value estimate. 

2. Complete requirement 1 again, but for investments accounted for as available for sale. 

3. Given your answer to 1c and 2c, which type of investment has more reliable (representational faithful) fair value estimates: FVTPL investments or available for sale investments?