Q2. Based on the balance sheet, answer questions below Figure 6-1 MicroDrive Inc. December 31 Balance Sheets (Millions of Dollars) Assets Cash and equivalents Short-term investments Accounts receivable Inventories Total current assets Net plant and equipment Total assets 2018 $50 0 500 1,000 $1,550 2,000 $3,550 2017 $60 40 380 820 $1,300 1,700 $3,000 Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total liabilities Preferred stock (1,000,000 shares) Common stock (50,000,000 shares) Retained earnings Total common equity Total liabilities and equity $200 280 300 $780 1,200 $1,980 100 500 970 $1,470 $3,550 $190 130 280 $600 1,000 $1,600 100 500 800 $1,300 $3,000 a) What is the most illiquid current asset ? b) How much short term debt does the firm have? c) What are the total proceeds of the firm from selling stocks