Use Microsofts balance sheets for the fiscal year 2016 to compute the following (assume equity and other investments is operating):

a.	Operating assets
b.	Operating liabilities
c.	Net operating assets (NOA)

MICROSOFT CORPORATION

Balance Sheet

As of June 30, 2016

Current Assets
Cash & Cash Equivalents	$6510
Short term investments	106,730
Accounts receivable, net	18,277
Inventories	2,251
Other Current assets	5,892
Total current assets	139,660
Property & equipment, net	18,356
Equity & other investments	10,431
Goodwill	17,872
Intangible assets, net	3,733
Other long-term assets	3,642
Total assets	$193,694
Current liabilities
Accounts payable	$6,898
Short-term debt	12,904
Accured compensation	5,264
Income taxes	580
Short-term unearned revenue	27,468
Other current liabilities	6,243
Total current liabilities	59,357
Long-term debt	40,783
Long-term unearned revenue	6,441
Deferred income taxes	1,476
Other long-term liabilities	13,640
Total liabilities	121,697
Stockholders equity
Common stock & paid in capital	68,178
Retained earnings	2,282
Accumulated other comprehensive income	1,537
Total stockholders equity	71,997
Total liabilities & stockholders equity	$193,694