The French group Club Mditerrane is an active service provider in the leisure and hospitality field with, in particular, its rich network of all-inclusive resort hotels and €˜villages€™. The statements of financial position (prepared in accordance with IFRS) for the period 2009€“2011 follow (Source: Annual reports 2009 and 2011).

Required
1. What is the format of the balance sheet?
2. Prepare a simplified balance sheet with three subheadings in the assets and three sub-headings in the equity and liabilities (see Table 15.2).
3. Prepare the statement of financial structure (i.e., compute the working capital, working capital need and net cash).
4. Comment on the results and information created in your answers to questions 2 and 3. N.B. The assets and liabilities attributable to certain hotels and villages have been classified as €˜[net] assets held for sale€™ and reported on a separate line of the statement of financial position, as their sale within 12 months from the date of said classification is considered highly probable.

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Consolidated statements of financial position 31 October (in millions) 2009 2010 Non-current financial assets 1,0081,033 5 1,032 1,053 8 Cash and cash equivalents EQUITY AND LIABILITIES Net income /loss for the year Equity attributable to the owners of the 2 4 2 4 Pensions and other long-term benefits Borrowings and interest-bearing liabilities Borrowings and interest-bearing liabilities and liabilities 1,4071,4301,274 8 Includes: Short-term bank loans and overdrafts