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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 revenue 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 $13,924 11,297 17,559 2,122 24,007 68,909 130,880 20,737 12,592 $233,118 $30,363 18,555 8,539 6,343 63,800 29,148 28,010 120,958 1 23,912 88,247 112, 160 $233,118 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.

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 revenue 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 $13,924 11,297 17,559 2,122 24,007 68,909 130,880 20,737 12,592 $233,118 $30,363 18,555 8,539 6,343 63,800 29,148 28,010 120,958 1 23,912 88,247 112, 160 $233,118 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.

FINANCIAL ACCOUNTING
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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Compute the orange current ratio on September 26
**Orange Incorporated** **Consolidated Balance Sheet** **September 28, 2019** **(dollars in millions)** ### Assets **Current assets:** - Cash: $13,924 - Short-term investments: $11,297 - Accounts receivable: $17,559 - Inventories: $4,097 - Other current assets: $2,122 **Total current assets:** $24,007 **Long-term investments:** $68,909 **Property, plant, and equipment, net:** $130,880 **Other noncurrent assets:** $20,737 **Total assets:** $12,592 **Total assets:** $233,118 --- ### Liabilities and Stockholders' Equity **Current Liabilities:** - Accounts payable: $30,363 - Accrued expenses: $18,555 - Unearned revenue: $8,539 - Short-term debt: $6,343 **Total current liabilities:** $63,800 **Long-term debt:** $29,148 **Other noncurrent liabilities:** $28,010 **Total liabilities:** $120,958 **Stockholders’ equity:** - Common stock ($0.00001 par value): $1 - Additional paid-in capital: $23,912 - Retained earnings: $88,247 **Total stockholders’ equity:** $112,160 **Total liabilities and shareholders' equity:** $233,118 --- ### Assumptions: Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. --- This consolidated balance sheet provides a snapshot of Orange Incorporated's financial position
Transcribed Image Text:**Orange Incorporated** **Consolidated Balance Sheet** **September 28, 2019** **(dollars in millions)** ### Assets **Current assets:** - Cash: $13,924 - Short-term investments: $11,297 - Accounts receivable: $17,559 - Inventories: $4,097 - Other current assets: $2,122 **Total current assets:** $24,007 **Long-term investments:** $68,909 **Property, plant, and equipment, net:** $130,880 **Other noncurrent assets:** $20,737 **Total assets:** $12,592 **Total assets:** $233,118 --- ### Liabilities and Stockholders' Equity **Current Liabilities:** - Accounts payable: $30,363 - Accrued expenses: $18,555 - Unearned revenue: $8,539 - Short-term debt: $6,343 **Total current liabilities:** $63,800 **Long-term debt:** $29,148 **Other noncurrent liabilities:** $28,010 **Total liabilities:** $120,958 **Stockholders’ equity:** - Common stock ($0.00001 par value): $1 - Additional paid-in capital: $23,912 - Retained earnings: $88,247 **Total stockholders’ equity:** $112,160 **Total liabilities and shareholders' equity:** $233,118 --- ### Assumptions: Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. --- This consolidated balance sheet provides a snapshot of Orange Incorporated's financial position
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