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Forecast the Balance Sheet Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016. Medtronic plc Consolidated Balance Sheets ($
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
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