please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) ### Orange Incorporated Balance Sheet Overview#### Orange IncorporatedHeadquartered in Cupertino, California, Orange Incorporated designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and provides various related services. Below is the simplified balance sheet from a recent fiscal year (ending the last Saturday of September).---**ORANGE INCORPORATED** **CONSOLIDATED BALANCE SHEET** **September 28, 2019** *(dollars in millions)*---#### ASSETS**Current Assets:**- Cash: $14,124- Short-term investments: $11,457- Accounts receivable: $17,884- Inventories: $2,147- Other current assets: $24,287**Total current assets:** $69,819**Non-current Assets:**- Long-term investments: $132,610- Property, plant, and equipment, net: $21,212- Other noncurrent assets: $12,762**Total assets:** $236,203---#### LIABILITIES AND STOCKHOLDERS' EQUITY**Current Liabilities:**- Accounts payable: $30,768- Accrued expenses: $18,865- Unearned revenue: $8,659- Short-term debt: $6,428**Total current liabilities:** $64,720**Non-current Liabilities:**- Long-term debt: $29,543- Other noncurrent liabilities: $28,325**Total liabilities:** $122,588**Stockholders' Equity:**- Common stock ($0.00001 par value): 11- Additional paid-in capital: $26,112- Retained earnings: $87,502**Total stockholders’ equity:** $113,625**Total liabilities and shareholders' equity:** $236,203---### Assumed Transactions for the Next Fiscal Year (ending on September 26, 2020):- **a.** Borrowed $18,317 million from banks, due in two years.- **b.** Purchased additional investments for $25,700 million cash; one-fifth were long-term, and the rest were short-term.- **c.** Purchased property, plant, and equipment, paid $9,623 million in cash, and signed a short-term note for $1,460 million **Required:**3. Prepare a trial balance at September 26, 2020.**Note:** Enter your answers in millions.---**ORANGE INCORPORATED****Trial Balance***At September 26, 2020**(in millions)*| **Debit** | **Credit** ||-------------------|-------------------|| Cash | || Short-term investments | || Accounts receivable | || Inventories | || Other current assets | || Long-term investments | || Property, plant, and equipment, net | || Other noncurrent assets | || Accounts payable | || Accrued expenses | || Unearned revenue | || Short-term debt | || Dividends payable | || Long-term debt | || Other noncurrent liabilities | | $28,385 || Common stock | | $1 || Additional paid-in capital | | $1,520 || Retained earnings | $11,177 | |**Totals**: Debit: $11,177 Credit: $29,906

TRAIL BALANCE Trail Balance is the Summary Statement of Credit & Debit Balances of All Ledgers.…

Required Information [The following information applies to the questions displayed below.] 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 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 $14,124 11,457 17,804 2,147 24,287 69,819 132,610 21,012 12,762 $236,203 $30,768 18,805 8,659 6,428 64,660 29,543 28,385 122,588 1 26,112 87,582 113,615 $236,203 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,317 from banks due in two years. b. Purchased additional Investments for $25,700 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,623 in cash and signed a short-term note for $1,460. d. Issued additional shares of common stock for $1,520 In cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term Investments costing $19,058 for $19,058 cash. f. Declared $11,177 In dividends to be paid at the beginning of the next fiscal year.

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q