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Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,293 from banks due
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,293 from banks due in two years. b. Purchased additional investments for $23,600 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,600 in cash and signed a short-term note for $1,438. d. Issued additional shares of common stock for $1,498 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,035 for $19,035 cash. 1. Declared $11,154 in dividends to be paid at the beginning of the next fiscal year. Required: 5. Compute Orange's current ratio on September 26, 2020. Note: Round your answer to 2 decimal places. Current ratio 1.10
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