ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) Short-term investments Accounts receivable Inventories $13,904 11,281 17,534 2,119 Other current assets 23,973 Total current assets 68,811 Long-term investments 130,694 Property, plant, and equipment, net 20,708 Other noncurrent assets 12,574 Total assets $232,787 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $30,320 Accrued expenses 18,529 Unearned revenue Short-term debt 8,527 6,334 Total current liabilities 63,710 Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): 29,107 27,971 120,788 1 23,812 88,186 111,999 $232,787
year (ending on September 26, 2020): Borrowed $18,277 from banks due in two years. Purchased additional investments for $21,900 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment; paid $9,581 in cash and signed a short-term note for $1,420. Issued additional shares of common stock for $1,479 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,019 for $19,019 cash. Declared $11,135 in dividends to be paid at the beginning of the next fiscal year. 1. Prepare a classified
![Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal
computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's
(simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).
ASSETS
Current assets:
Cash
ORANGE INCORPORATED
CONSOLIDATED BALANCE SHEET
September 28, 2019
(dollars in millions)
Short-term investments
Accounts receivable
Inventories
$13,904
11,281
17,534
2,119
Other current assets
23,973
Total current assets
68,811
Long-term investments
130,694
Property, plant, and equipment, net
20,708
Other noncurrent assets
12,574
Total assets
$232,787
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable
$30,320
Accrued expenses
18,529
Unearned revenue
Short-term debt
8,527
6,334
Total current liabilities
63,710
Long-term debt
Other noncurrent liabilities
Total liabilities
Stockholders' equity:
Common stock ($0.00001 par value)
Additional paid-in capital
Retained earnings
Total stockholders' equity
Total liabilities and shareholders' equity
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):
29,107
27,971
120,788
1
23,812
88,186
111,999
$232,787](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F113170aa-f82b-4976-9ad1-7a3fb696cb71%2F0900437d-98ba-4ced-94c6-9117da73bf7a%2Fj9xk0h9_processed.png&w=3840&q=75)
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