Air France?KLM Group reports the following balance sheet for the year ended December 31, 2013.

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 December 31, 2012 and 2013?

D. What is the ratio of long-term debt to equity for the years ending December 31, 2012 and 2013?

E. Are there any typical balance sheet ratios that cannot be readily computed using the IFRSbased financial statement? If so, what are they?

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Air France-KLM Group CONSOLIDATED BALANCE SHEET Assets In € millions December 31, 2013 December 31, 2012 Goodwill 237 252 Intangible assets 896 842 Flight equipment 9,391 10,048 Other property, plant and equipment 1,819 1,932 Investments in equity associates 177 381 Pension assets 2,454 2,477 Other financial assets(**) 1,963 1,665 Deferred tax assets 436 1,392 Other non-current assets 113 152 Total non-current assets 17,486 19,141 Assets held for sale 91 Other short-term financial assets(**) 1,031 933 Inventories 511 521 Trade accounts receivables 1,775 1,859 Income tax receivables 23 11 Other current assets 822 828 Cash and cash equivalents 3,684 3,420 Total current assets 7,937 7,579 Total assets 25,423 26,720 Liabilities and equity In € millions Issued capital Additional paid-in capital Treasury shares Reserves and retained earnings Equity attributable to equity holders of Air December 31, 2013 December 31, 2012 300 300 2,971 (85) 403 2,971 (85) (944) 2,242 3,589 France-KLM Non-controlling interests Total equity 48 48 2,290 3,637