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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 | $2,988 | $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 | 23,712 | 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 | $99,894 | $106,685 | |||
Current liabilities | |||||
Short-term borrowings | $1,105 | $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 | 7,277 | 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 | 47,831 | 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 | $99,894 | $106,685 |
Use the following assumptions to forecast the companys balance sheet for FY2017.
Forecasted FY2017 net income | $5,151 million | |
Forecasted FY2017 net sales | $36,274 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 | $1,105 million | |
Current maturities of debt due in FY2018 | $6,176 million | |
Dividend payout ratio | 60.5% |
Round your answers to the nearest whole number.
Use a negative sign with your Accumulated other comprehensive loss answer.
Medtronic plc | ||||
---|---|---|---|---|
Forecasted Consolidated Balance Sheet | ||||
($ millions) | EST. 2017 | |||
Current assets | ||||
Cash and cash equivalents | Answer | |||
Investments | Answer | |||
Accounts receivable | Answer | |||
Inventories | Answer | |||
Tax assets | Answer | |||
Prepaid expenses and other current assets | Answer | |||
Total current assets | Answer | |||
Property, plant, and equipment, net | Answer | |||
Goodwill | Answer | |||
Other intangible assets, net | Answer | |||
Long-term tax assets | Answer | |||
Other assets | Answer | |||
Total assets | Answer | |||
Current liabilities | ||||
Short-term borrowings | Answer | |||
Accounts payable | Answer | |||
Accrued compensation | Answer | |||
Accrued income taxes | Answer | |||
Other accrued expenses | Answer | |||
Total current liabilities | Answer | |||
Long-term debt | Answer | |||
Long-term accrued compensation | Answer | |||
Long-term accrued income taxes | Answer | |||
Long-term deferred tax liabilities | Answer | |||
Other long-term liabilities | Answer | |||
Total liabilities | Answer | |||
Shareholders equity | ||||
Ordinary shares | - | |||
Retained earnings | Answer | |||
Accumulated other comprehensive (loss) | Answer | |||
Total shareholders equity | Answer | |||
Total liabilities and shareholders equity | Answer |
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