The financial statements of Marks and Spencer plc (M&S) are available at the book's companion website or can be accessed at

http://corporate.marksandspencer.com/investors/b78e6f56a12d4fc3abacfe70e945c28c

Instructions

Refer to M&S's financial statements and the accompanying notes to answer the following questions.

(a)	What investments does M&S report in 2012, and where are these investments reported in its financial statements?

(b)	How are M&S's investments valued? How does M&S determine fair value?

(c)	How does M&S use derivative financial instruments?