E1-17A. (Learning Objectives 2, 3: Using the accounting equation; evaluating business operations) Double Doughnuts has current assets of $250 million; property, plant and equipment of $440 million; and other assets totaling $100 million. Current liabilities are $120 million and long-term liabilities total $300 million.

Requirements 1. Use the data to write Double Doughnuts’ accounting equation.

2. How much in resources does Double Doughnuts’ have to work with?

3. How much does Double Doughnuts’ owe creditors?

4. How much of the company’s assets do the Double Doughnuts’ shareholders actually own?