Please dont give solution image based thank you ASSETSCurrent assets:CashORANGE INCORPORATEDCONSOLIDATED BALANCE SHEETSeptember 28, 2019(dollars in millions)Short-term investments.Accounts receivableInventoriesOther current assetsTotal current assetsLong-term investmentsProperty, plant, and equipment, netOther noncurrent assetsTotal assetsLIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payableAccrued expensesUnearned revenueShort-term debtTotal current liabilitiesLong-term debtOther noncurrent liabilitiesTotal liabilitiesStockholders' equity:Common stock ($0.00001 par value)Additional paid-in capitalRetained earningsTotal stockholders' equityTotal liabilities and shareholders' equity$13,97411,33717,6192,12724,06269,119131,28020,80212,632$233,833$30,45818,6158,5696,36364,00529,24328,100121,348124,81287,672112,485$233,833 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):a. Borrowed $18,291 from banks due in two years.b. Purchased additional investments for $23,400 cash; one-fifth were long term and the rest were short term.c. Purchased property, plant, and equipment; paid $9,597 in cash and signed a short-term note for $1,435.d. Issued additional shares of common stock for $1,495 in cash; total par value was $1 and the rest was in excess of parvalue.e. Sold short-term investments costing $19,032 for $19,032 cash.f. Declared $11,151 in dividends to be paid at the beginning of the next fiscal year.P2-5 Part 3Required:3. Prepare a trial balance at September 26, 2020.Note: Enter your answers in millions.ORANGE INCORPORATEDTrial BalanceAssets(in millions)DebitRequired:4. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions.Note: Enter your answers in millions.ORANGE INCORPORATEDBalance Sheet(in millions)Credit0

Balance Sheet is a financial statement that includes Assets, Liabilities and Stockholder's…

ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned re enue Short-term debt Total current liabilities 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 $13,974 11,337 17,619 2,127 24,062 69,119 131,280 20,802 12,632 $233,833 $30,458 18,615 8,569 6,363 64,005 29,243 28,100 121,348 1 24,812 87,672 112,485 $233,833

ASSETS Current assets: Cash ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned re enue Short-term debt Total current liabilities 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 $13,974 11,337 17,619 2,127 24,062 69,119 131,280 20,802 12,632 $233,833 $30,458 18,615 8,569 6,363 64,005 29,243 28,100 121,348 1 24,812 87,672 112,485 $233,833

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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