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Chico Incorporated, headquartered in Chico, Texas, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The

Chico Incorporated, headquartered in Chico, Texas, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Chico's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).

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Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):

  1. Borrowed $18,279 from banks due in two years.
  2. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term.
  3. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422.
  4. 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.
  5. Sold short-term investments costing $19,021 for $19,021 cash.
  6. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year.

Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions.

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CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) ASSETS Current assets: Cash \begin{tabular}{r} $13,924 \\ 11,297 \\ 17,559 \\ 2,122 \\ 24,697 \\ \hline 68,999 \\ 139,880 \\ 29,737 \\ 12,592 \\ \hline$233,118 \\ \hline \hline \end{tabular} 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 (\$e. $ eeel par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity \begin{tabular}{r} $3,363 \\ 18,555 \\ 8,539 \\ 6,343 \\ \hline 63,80 \\ 29,148 \\ 28,01 \\ \hline 12,958 \\ \\ 1 \\ 23,912 \\ 88,247 \\ \hline 112,16 \\ \hline$233,118 \\ \hline \hline \end{tabular} \begin{tabular}{l} Balance Sheet \\ \hline \multicolumn{2}{|c|}{ At September 26, 2020 } \\ Assets \\ \hline Current assets: \\ \hline Cash \\ \hline Short-term investments \\ \hline Accounts receivable \\ \hline Inventories \\ \hline Other current assets \\ \hline \\ \hline Total current assets \\ \hline Long-term investments \\ \hline Property, plant, and equipment, net \\ \hline Other noncurrent assets \\ \hline \end{tabular} Liabilities and stockholders' equity Current liabilities: Accounts payable Accrued expenses Unearned revenue Dividends payable Short-term debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities 'Stockholders' equity: Common stock Additional paid-in-capital Retained earnings Total stockholders' equity Total liabilities and stockholders' equity

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