Section 2 Structural short questions (Total 65 points) The following questions concern Beta Ine. Read the questions carefully and answer the questions in the spaces provided. Question 1 (Total 10 points) Balance Sheet (in Millions, except for Per-Share Data) Year Ended 31 December 2012 2011 Assets Current assets Cash 325.0 350.0 Marketable securities 100.0 78.0 Accounts receivable 745.0 711.0 Inventory 846.0 780.0 Total current assets 2,016.0 1,919.0 Net fixed assets 3,012.0 2,889.0 Long-term financial assets 500.0 550.0 Total assets 5,528.0 5,358.0 Liabilities and share holders' equity Current liabilities Short-term debt 350.0 380.0 Accounts payable 476.0 435.0 Wages payable 136.0 126.0 Accrued expenses 430.0 410.0 Total current liabilities 1,392.0 1,351.0 Long-term debt 1,525.0 1,450.0 Common stock 525.0 525.0 Retained earnings 2,086.0 2,032.0 Total shareholders' equity 2,611.0 2,557.0 Total liabilities and share holders' equity 5,528.0 5,358.0 The above is Beta Inc.'s balance sheets in 2011 and 2012. Reorganize the balance sheets. Write down the intermediate steps that lead to your answer in the spaces provided. a) (4 points) Operating assets and operating liabilities in 2011 and 2012. b) (4 points) Financial obligations and financial assets in 2011 and 2012. c) (2 points) Complete the table below: Reorganized balance sheet 2012 2011 Operating assets Operating liabilities Net operating assets (NOA) Financial obligations (-) Financial assets Net financial obligations (NFO) Shareholders' equity (CSE) NFO+CSE