Consolidated Balance Sheets USD ($) in Millions June 30, 2015 June 30,2014 Current Assets Cash and Cash Equivelents $6,845 $8,558 Available for Sale Securities 4,767 2,128 Accounts Receivable 4,861 6,386 INVENTORIES Materials and Suppliers 1,392 1,742 Work in Progress 550 684 Finished Goods 3,512 4,333 Total Inventories 5,454 6,759 Deferred Income Taxes 1,356 1,092 Prepaid Expenses and Other Current Assets 2,853 3,845 Assets Held for Sale 3,510 2,849 Assets, Current 29,646 31,617 Property, Plant and Equipment, Net 20,268 22,304 Goodwill, Net 47,316 53,704 Trademarks and other Intangible Assets, Net 26,829 30,843 Other Assets, Noncurrent 5,436 5,798 Assets 129,495 144,266 CURRENT LIABILITIES Accounts Payable 8,257 8,461 Accrued and Other Liabilities 8,325 8,999 Liabilities Held for Sale 1,187 660 Debt Due Within One Year 12,021 15,606 Liabilities, Current 29,790 33,726 Long term Debt, Excluding Current Maturities 18,329 19,811 Deferred Tax Liabilities, Net Noncurrent 9,531 10,218 Other Liabilities, Noncurrent 8,795 10,535 Liabilities 66,445 74,290 SHAREHOLDERS' EQUITY Commonstock, stated value $1 per share (10,000 shares authorized shared issued 2015 4,009 2 2014 4009 2) 4,009 4,009 Additional Paid In Capital 63,852 63,911 Reserve for ESOP Debt Retirement (1,320) (1,320) Accumulated Other Comprehensive Income (loss) (12,780) (7,662) Treasury Stock, Value (77,226) (75,805) Retained Earnings 84,807 84,990 Noncontrolling Interest 631 762 TOTAL SHAREHOLDERS' EQUITY 63,050 69,976 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 129,495 144,266 Preferred Class A Member SHAREHOLDERS' EQUITY Preferred Stock, Value, Issued 1,077 1,111 Preferred Class B Member SHAREHOLDERS' EQUITY Preferred Stock, Value, Issued $0 $0 Using the information above, please answer the following questions 1 Explain why the amount reported for Treasury Stock as of June 30, 2015, is subtracted for stockholders equity 2 The company is authorized to issue 200,000,000 shares of Non Voting Class B preferred stock As of June 30, 2015, what is the outstanding amount received from the issuance of the Non Voting Class B preferred stock 3 The company has issued Convertible Class A preferred stock Was any of the Convertible Class A stock converted during the fiscal year ended June 30, 2015 If so, what was it converted into

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 05, 2024

Consolidated Balance Sheets USD ($) in Millions June 30, 2015 June 30,2014 Current Assets Cash and Cash Equivelents $6,845 $8,558 Available-for-Sale Securities 4,767 2,128 Accounts

Consolidated Balance Sheets USD ($) in Millions	June 30, 2015	June 30,2014
Current Assets
Cash and Cash Equivelents	$6,845	$8,558
Available-for-Sale Securities	4,767	2,128
Accounts Receivable	4,861	6,386
INVENTORIES
Materials and Suppliers	1,392	1,742
Work in Progress	550	684
Finished Goods	3,512	4,333
Total Inventories	5,454	6,759
Deferred Income Taxes	1,356	1,092
Prepaid Expenses and Other Current Assets	2,853	3,845
Assets Held for Sale	3,510	2,849
Assets, Current	29,646	31,617
Property, Plant and Equipment, Net	20,268	22,304
Goodwill, Net	47,316	53,704
Trademarks and other Intangible Assets, Net	26,829	30,843
Other Assets, Noncurrent	5,436	5,798
Assets	129,495	144,266
CURRENT LIABILITIES
Accounts Payable	8,257	8,461
Accrued and Other Liabilities	8,325	8,999
Liabilities Held for Sale	1,187	660
Debt Due Within One Year	12,021	15,606
Liabilities, Current	29,790	33,726
Long-term Debt, Excluding Current Maturities	18,329	19,811
Deferred Tax Liabilities, Net Noncurrent	9,531	10,218
Other Liabilities, Noncurrent	8,795	10,535
Liabilities	66,445	74,290
SHAREHOLDERS' EQUITY
Commonstock, stated value $1 per share (10,000 shares authorized; shared issued: 2015 - 4,009.2; 2014 - 4009.2)	4,009	4,009
Additional Paid-In Capital	63,852	63,911
Reserve for ESOP Debt Retirement	(1,320)	(1,320)
Accumulated Other Comprehensive Income (loss)	(12,780)	(7,662)
Treasury Stock, Value	(77,226)	(75,805)
Retained Earnings	84,807	84,990
Noncontrolling Interest	631	762
TOTAL SHAREHOLDERS' EQUITY	63,050	69,976
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	129,495	144,266
Preferred Class A [Member]
SHAREHOLDERS' EQUITY
Preferred Stock, Value, Issued	1,077	1,111
Preferred Class B [Member]
SHAREHOLDERS' EQUITY
Preferred Stock, Value, Issued	$0	$0

Using the information above, please answer the following questions:

1. Explain why the amount reported for Treasury Stock as of June 30, 2015, is subtracted for stockholders equity. 2. The company is authorized to issue 200,000,000 shares of Non-Voting Class B preferred stock. As of June 30, 2015, what is the outstanding amount received from the issuance of the Non-Voting Class B preferred stock? 3. The company has issued Convertible Class A preferred stock. Was any of the Convertible Class A stock converted during the fiscal year ended June 30, 2015? If so, what was it converted into?