Construct a market-value balance sheet for FedEx, using the information in Table 7.1 and stock prices reported in Sections 7.1 and 7.2. Assume that market and book values are equal for current assets, current liabilities, and debt and other long-term liabilities. How much extra value shows up on the asset side of the balance sheet?

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Table 7.1 SIMPLIFIED BALANCE SHEET FOR FEDEX, MAY 31, 2010 (Millions of dollars) S 7,284.00 $ 4,645.00 Current liabilities Current assets Plant, equipment and other long-term assets Debt and other long-term $ 6,446.00 $ 17,618.00 liabilities Shareholders' equity $13,811.00 Total liabilities and equity S24,902.00 $24,902.00 Shares of stock outstanding: Table 7.2 314.00 million Book Market-to- Stock Price Value per Book-Value 83.75 $ 43.98 FedEx 1.90 58.29 3.00 Johnson & Johnson 19.19 Campbell Soup PepsiCo 36.97 3.23 11.40 64.89 12.39 5.20 2.90 Walmart 51.20 17.49 Dow Chemical 25.59 14.22 1.80 Amazon 132.49 13.07 10.10 12.34 6.00 McDonald's 74.54 1.30 American Electric Power 36.11 27.70 15.01 GE 10.66 1.40