Apple Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software and services. The following is Apple's (simplified) statement of financial position from a recent year (fiscal year ended on the last Saturday of September). ASSETS Current assets: APPLE INC. STATEMENT OF FINANCIAL POSITION At September 29, 2018 (in millions of U.S. dollars) Cash and cash equivalents $ 25,913 Short-term investments Accounts receivable Inventories Other current assets: Total current assets. Non-current assets Long-term investments Property, plant, and equipment Other non-current assets 40,388 23,186 3,956 37,896 131,339 170,799 41,304 22,283 Total non-current assets 234,386 Total assets $365,725 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $55,888 Short-term notes payable. 20,748 Deferred revenue 7,543 Other current liabilities 32,687 Total current liabilities Non-current liabilities. Long-term debt Other non-current liabilities Total non-current liabilities Shareholders' equity:) Contributed capital 116,866 93,735 47,977 141,712 36,747 Retained earnings 70,400 Total shareholders' equity 107,147 Total liabilities and shareholders' equity $365,725 Source: Apple Inc., Annual Report 2018. Assume that the following transactions (in millions) occurred during the next fiscal year (ended on September 28, 2019): a. Borrowed $6,266 from banks due in two years. b. Purchased additional investments for $71,000 cash; one-fifth were long-term and the rest were short-term. c. Purchased property, plant, and equipment: paid $13.571 in cash and signed a short-term note for $5,410. d. Issued additional shares for $469 in cash. e. Sold short-term investments costing $55,810 for $55,810 cash. f Declared $13,735 in dividends to be paid at the beginning of the next fiscal year. Required: 2. Post each transaction to the appropriate T-accounts. (Enter your answers in millions.) Cash and cash equivalents Beg Bal. 25,913 End Bal 25,913 Short-term Investments Beg Bal. 40,388 End Bal 40,388 Accounts Receivable. Inventories Beg Bal. 23,186 Beg Bal 3,956 End Bal 23,186 End Bal 3,956 Other Current Assets Long-term Investments Beg. Bal 37,896 Beg Bal 170,799 End Bal 37,896 End. Bal 170,799 Property, Plant, and Equipment Beg. Bal 41,304 Beg. Bal Other Non-current Assets 22,283 End Bal 41,304 End Bal 22,283 Accounts Payable Short-term Notes Payable Beg. Bal 55,888 Beg. Bal 20,748 End. Bal 55,888 End. Bal. 20,748 Deferred Revenue Other Current Liabilities Beg Bal 7,543 Beg. Bal. 32,687 7,543 End. Bal End. Bal Dividends Payable Beg. Bal End Bal 32,687 Long-term Debt Beg Bal 93,735 End Bal 93,735 Beg. Bal End. Bal Other Non-current Liabilities 47,977 Beg. Bal Contributed Capital 36,747 47,977 End. Bal 36,747 Retained Earnings Beg. Bal. 70,400 End. Bal 70,400 Required: 3. Prepare a trial balance at September 28, 2019. (Enter your answers in millions.) Totals APPLE INC. Trial Balance (in millions) Debit Credit Required: 4. Prepare a classified statement of financial position for Apple at September 28, 2019 based on these transactions. (Enter your answers in millions.) APPLE INC. Statement of Financial Position (in millions) Assets es Liabilities and shareholders' equity Required: 5. Compute Apple's current ratio for the year ending on September 28, 2019. (Round your answer to 2 decimal places.) Current ratio