Air France reports the following balance sheet for the year ended March 31, 2007.

Required:

A. In what order are assets listed on the balance sheet?
B. Comment on other differences (IFRS relative to U.S. GAAP) that you might notice on the balance sheet.
C. What is the current ratio for the years ending March 31, 2006 and 2007?

D. What is the ratio of long-term debt to equity for the years ending March 31, 2006 and 2007?

E. Are there any typical balance sheet ratios that cannot be readily computed using the IFRS based financial statement? If so, what arethey?

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March 31 2007 March 31, 2006 In E millions Liabilities and equity Issued capital Additional paid-in capital Treasury shares Reserves and retained earning Equity attributable to equity holders of Air France-KLM Minority interest Total equity Provisions and retirement benefits Long-term debt Deferred tax Other non-current liabilities Total non-current liabilities PrOvisions Current portion of long-term debt Trade accounts payable Deferred revenue on ticket sales Current tax liabilities Other current liabilities Bank overdrafts Total current liabilities Total labilities Total liabilities and equity 2,375 539 2,290 430 (58) 5,415 8,299 113 8,412 1,387 7,419 891 401 10,098 225 1,098 2,131 2,217 21 2,335 133 8,160 18,258 26,670 5,072 119 7,853 1,458 7,826 889 417 10,535 192 1,260 2,039 2,062 167 2,269 8,091 18,626 24,479