Assume that market and book values are equal for current assets, current liabilities, and debt and other long-term liabilities. SIMPLIFIED BALANCE SHEET FOR FEDEX May 30, 2013 (Figures in $ millions) Assets Liabilities and Shareholders equity Current assets $ 11,274 Current liabilities $ 5,750 Plant, equipment and other long-term assets 22,293 Debt and other long-term liabilities 10,419 Shareholders equity 17,398 Total assets $ 33,567 Total liabilities and equity $ 33,567 Note: Shares of stock outstanding: 316.6 million. Book value of equity (per share): 17,398 / 316.6 = $54.95. The stock price is $103.39.

a.	Construct a market-value balance sheet from the above data. (Be sure to list the assets and liabilities in order of their liquidity. Enter your answers in millions rounded to 2 decimal places.)

SIMPLIFIED MARKET VALUE BALANCE SHEET FOR FEDEX
May 30, 2013
(Figures in $ millions)
Assets		Liabilities and Shareholders equity
(Click to select)Current assetsCurrent liabilitiesDebt and other long-term liabilitiesPlant, equipment and other long-term assetsShareholders equity	$	(Click to select)Current assetsCurrent liabilitiesDebt and other long-term liabilitiesPlant, equipment and other long-term assetsShareholders equity	$
Growth opportunities		(Click to select)Current assetsCurrent liabilitiesDebt and other long-term liabilitiesPlant, equipment and other long-term assetsShareholders equity
(Click to select)Current assetsCurrent liabilitiesDebt and other long-term liabilitiesPlant, equipment and other long-term assetsShareholders equity		(Click to select)Current assetsCurrent liabilitiesDebt and other long-term liabilitiesPlant, equipment and other long-term assetsShareholders equity
Total assets	$	Total liabilities and equity	$

b.	How much extra value shows up on the asset side of the balance sheet? (Enter your answer in millions rounded to 2 decimal places.)

Extra value on the asset side

$ million