697 Forecast the Balance Sheet Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016. Medtronic plc Consolidated Balance Sheets ($ millions) Apr. 29, 2016 Apr. 24, 2015 Current assets Cash and cash equivalents $2.988 $4,843 Investments 9,758 14,637 Accounts receivable 5,562 5,112 Inventories 3,473 3,463 Tax assets 1,335 Prepaid expenses and other current assets 1,234 1,454 Total current assets 23,712 30,844 Property, plant, and equipment, net 4,841 4,699 Goodwill 41,500 40,530 Other intangible assets, net 26,899 28.101 Long-term tax assets 1,383 774 Other assets 1,559 1.737 Total assets $99,894 $106,685 Current liabilities Short-term borrowings $1,105 $2,434 Accounts payable 1.709 1,610 Accrued compensation 1,712 1,611 Accrued compensation 1,712 1566) 2,185) 7,277 30,247 1,759 2,903 3,729, Accrued income taxes Deferred tax liabilities Other accrued expenses Total current liabilities Long-term debt Long-term accrued compensation Long-term accrued income taxes Long-term deferred tax liabilities Other long-term liabilities Total liabilities Shareholders' equity Ordinary shares Retained earnings Accumulated other comprehensive (loss) Total shareholders' equity Total liabilities and shareholders equity 1,611 1935 1119) 2,464 9,173 33.752 1,535 2,476 4,700 1,819, 53,455 1,916 147,831 53,931 (1,868) 52,063) 1599,894 54,414 (1,184) 53,230) 15106,685) 0 Use the following assumptions to forecast the company's balance sheet for FY2017. Forecasted FY2017 net income $5,151 Forecasted FY2017 net sales $36,274 Accounts receivable 19.396 Inventories 12.096 Tax assets 2.496 Prepaid expenses and other current assets 4.396 Long-term tax assets 4.896 Other assets 5.496 Accounts payable 5.996 Accrued compensation 5.996 Accrued income taxes 2.096 Other accrued expenses 7.696 Long-term accrued income taxes 10.196 Long-term deferred tax liabilities 12.996 Other long-term liabilities 6.696 Investments No change Goodwill No change Long-term accrued compensation and retirement benefits No change Ordinary shares No change million million of net sales of net sales of net sales of net sales of net sales of net sales of net sales of net sales of net sales of net sales of net sales of net sales of net sales Ordinary shares Accumulated other comprehensive (loss) CAPEX Depreciation expense Amortization expense in FY2016 Current maturities of debt due in FY2017 Current maturities of debt due in FY2018 Dividend payout ratio No change No change 3.696 of net sales 18.996 of prior year PPE, net $1,931 million $1,105 million $6,176 million 60.596 Medtronic plc Forecasted Consolidated Balance Sheet ($ millions) EST. 2017 Current assets Cash and cash equivalents Investments Accounts receivable Inventories OX Tax assets 0 x Prepaid expenses and other current assets Total current assets Property, plant, and equipment, net Goodwill 0 x Other intangible assets, net Long-term tax assets Other assets 0 x Total assets Current liabilities Short-term borrowings Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Total aurrentiliabilities X ooooo X X X 0X 0 X OX OX --- Current liabilities Short-term borrowings Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Total current liabilities Long-term debt Long-term accrued compensation Long-term accrued income taxes Long-term deferred tax liabilities Other long-term liabilities Total liabilities Shareholders' equity Ordinary shares Retained earnings Accumulated other comprehensive (loss) Total shareholders' equity Total liabilities and shareholders' equity OX 0 x Ox 0 x OX 0 x OX OX