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Forecast the Balance Sheet Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016. Help me fill in the blanks
Forecast the Balance Sheet
Following is the balance sheet for Medtronic PLC for the year ended April 29, 2016.
Help me fill in the blanks and check if my answers are correct
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 $2,876 $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 23,600 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 $99,782 $106,685 Current liabilities Short-term borrowings $993 $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 7,165 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 47,719 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 $99,782 $106,685 9,173 Use the following assumptions to forecast the company's balance sheet for FY2017. Forecasted FY2017 net income Forecasted FY2017 net sales Accounts receivable Inventories Tax assets Prepaid expenses and other current assets Long-term tax assets Other assets Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Long-term accrued income taxes Long-term deferred tax liabilities Other long-term liabilities Investments Goodwill Long-term accrued compensation and retirement benefits Ordinary shares Accumulated other comprehensive (loss) CAPEX Depreciation expense Amortization expense in FY2016 Current maturities of debt due in FY2017 Current maturities of debt due in FY2018 Dividend payout ratio $4,972 million $35,176 million 19.3% of net sales 12.0% of net sales 2.4% of net sales 4.3% of net sales 4.8% of net sales 5.4% of net sales 5.9% of net sales 5.9% of net sales 2.0% of net sales 7.6% of net sales 10.1% of net sales 12.9% of net sales 6.6% of net sales No change No change No change No change No change 3.6% of net sales 18.9% of prior year PPE, net $1,931 million $993 million $6,176 million 60.5% Round your answers to the nearest whole number. Do not use negative signs with any of your answers. Medtronic plc Forecasted Consolidated Balance Sheet ($ millions) EST. 2017 Current assets Cash and cash equivalents 0 Investments 9,758 Accounts receivable 7,456 Inventories 4,636 Tax assets 927 Prepaid expenses and other current assets 1,661 Total current assets Property, plant, and equipment, net 5,317 Goodwill 41,500 Other intangible assets, net 24,968 Long-term tax assets 1,854 Other assets 0 Total assets 0 Current liabilities Short-term borrowings 0 Accounts payable Accrued compensation 2,279 Accrued income taxes Other accrued expenses 2,936 Total current liabilities Long-term debt Long-term accrued compensation 1,759 Long-term accrued income taxes 3,902 Long-term deferred tax liabilities Other long-term liabilities 2,550 Total liabilities Shareholders' equity Ordinary shares Retained earnings Accumulated other comprehensive (loss) Total shareholders' equity Total liabilities and shareholders' equity 2,279 773
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