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				$2,768	$4,843
Investments				9,758	14,637
Accounts receivable				5,562	5,112
Inventories				3,473	3,463
Tax assets				697	1,335
Prepaid expenses and other current assets				1,234	1,454
Total current assets				23,492	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				$99,674	$106,685
Current liabilities
Short-term borrowings				$885	$2,434
Accounts payable				1,709	1,610
Accrued compensation				1,712	1,611
Accrued income taxes				566	935
Deferred tax liabilities				-	119
Other accrued expenses				2,185	2,464
Total current liabilities				7,057	9,173
Long-term debt				30,247	33,752
Long-term accrued compensation				1,759	1,535
Long-term accrued income taxes				2,903	2,476
Long-term deferred tax liabilities				3,729	4,700
Other long-term liabilities				1,916	1,819
Total liabilities				47,611	53,455
Shareholders equity
Ordinary shares				-	-
Retained earnings				53,931	54,414
Accumulated other comprehensive (loss)				(1,868)	(1,184)
Total shareholders equity				52,063	53,230
Total liabilities and shareholders equity				$99,674	$106,685

Use the following assumptions to forecast the companys balance sheet for FY2017.

Forecasted FY2017 net income							$4,839	million
Forecasted FY2017 net sales							$34,079	million
Accounts receivable							19.3%	of net sales
Inventories							12.0%	of net sales
Tax assets							2.4%	of net sales
Prepaid expenses and other current assets							4.3%	of net sales
Long-term tax assets							4.8%	of net sales
Other assets							5.4%	of net sales
Accounts payable							5.9%	of net sales
Accrued compensation							5.9%	of net sales
Accrued income taxes							2.0%	of net sales
Other accrued expenses							7.6%	of net sales
Long-term accrued income taxes							10.1%	of net sales
Long-term deferred tax liabilities							12.9%	of net sales
Other long-term liabilities							6.6%	of net sales
Investments							No change
Goodwill							No change
Long-term accrued compensation and retirement benefits							No change
Ordinary shares							No change
Accumulated other comprehensive (loss)							No change
CAPEX							3.6%	of net sales
Depreciation expense							18.9%	of prior year PPE, net
Amortization expense in FY2016							$1,931	million
Current maturities of debt due in FY2017							$885	million
Current maturities of debt due in FY2018							$6,176	million
Dividend payout ratio							60.5%

Round your answers to the nearest whole number.

Do not use negative signs with any of your answers.

Medtronic plc Forecasted Consolidated Balance Sheet S millions) Current assets Cash and cash equivalents EST. 2017 3,484 X 9,758 Accounts receivable 6,677 X 4,091 X Tax assets 819X Prepaid expenses and other current assets 1,466 X Total current assets 26,194 X Property, plant, and equipment, net 6,152 X Goodwil 40,630 X Other intangible assets, net 26,999 X Long-term tax assets 1,638 X Other assets 1,840 Total assets 02,251X Medtronic plc Forecasted Consolidated Balance Sheet S millions) Current assets Cash and cash equivalents EST. 2017 3,484 X 9,758 Accounts receivable 6,677 X 4,091 X Tax assets 819X Prepaid expenses and other current assets 1,466 X Total current assets 26,194 X Property, plant, and equipment, net 6,152 X Goodwil 40,630 X Other intangible assets, net 26,999 X Long-term tax assets 1,638 X Other assets 1,840 Total assets 02,251X