Here is a simplified balance sheet for Caterpillar Tractor:

Caterpillar Tractor
Balance Sheet
($ in millions)
Current assets	$	42,529		Current liabilities	$	29,750
Long-term assets		46,842		Long-term debt		27,757
				Other liabilities		14,327
				Equity		17,537
Total	$	89,371		Total	$	89,371

Caterpillar has 662 million shares outstanding with a market price of $88 a share.

a.	Calculate the companys market value added. (Enter your answers in millions.)

Market value	_________$ million
Market value added	_________$ million

b.	Calculate the market-to-book ratio. (Round your answer to 2 decimal places.)

Market-to-book ratio

________________

c.

Has the company created value for shareholders?

	Yes
	No