from the above information, answer the following questions:

CISCO SYSTEMS, INC. Consolidated Balance Sheets (in millions, except par value) July 25, 2020 July 27, 2019 $ 11,809 17,610 11,750 21,663 5,472 1,282 5,051 2,349 43,573 2,453 5,714 33,806 1,576 3,990 3,741 94,853 5,491 1,383 5,095 2,373 47,755 2,789 4,958 33,529 2,201 4,065 2,496 97,793 $ S ASSETS Current assets: Cash and cash equivalents Investments Accounts receivable, net of allowance for doubtful accounts of $143 at July 25, 2020 and $136 at July 27, 2019 Inventories Financing receivables, net Other current assets Total current assets Property and equipment, net Financing receivables, net Goodwill Purchased intangible assets, net Deferred tax assets Other assets TOTAL ASSETS S LIABILITIES AND EQUITY Current liabilities: Short-term debt S Accounts payable Income taxes payable Accrued compensation Deferred revenue Other current liabilities Total current liabilities Long-term debt Income taxes payable Deferred revenue Other long-term liabilities Total liabilities Commitments and contingencies (Note 14) Equity Cisco shareholders' equity: Preferred stock, no par value: 5 shares authorized; none issued and outstanding Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 4,237 and 4,250 shares issued and outstanding at July 25, 2020 and July 27, 2019, respectively Accumulated deficit Accumulated other comprehensive loss Total equity TOTAL LIABILITIES AND EQUITY $ 3,005 2,218 839 3,122 11,406 4,741 10,191 2,059 1,149 3,221 10,668 4,424 31,712 14,475 8,927 7,799 1,309 64,222 25,331 11,578 8,837 9,040 2,147 56,933 41,202 (2,763) (519) 37,920 94,853 40,266 (5,903) (792) 33,571 97,793 CISCO SYSTEMS, INC. Consolidated Statements of Operations (in millions, except per-share amounts) July 25, 2020 July 27, 2019 July 28, 2018 Years Ended REVENUE: Product Service Total revenue S $ $ 35,978 13,323 39,005 12,899 36,709 12,621 49,330 49,301 51,904 COST OF SALES: Product 13,199 4,419 14,863 4,375 14,427 4,297 Service Total cost of sales 17,618 19,238 18,724 30,606 31,683 32,666 6,347 9,169 1,925 141 6,577 9,571 1,827 6,332 9,242 2,144 150 322 221 358 481 18,063 18,297 GROSS MARGIN OPERATING EXPENSES: Research and development Sales and marketing General and administrative Amortization of purchased intangible assets Restructuring and other charges Total operating expenses OPERATING INCOME Interest income Interest expense Other income (loss), net Interest and other income (loss), net INCOME BEFORE PROVISION FOR INCOME TAXES Provision for income taxes NET INCOME 13,620 920 (585) 15 18,447 14,219 1,308 (859) (97) 352 12,309 1,508 (943) 165 730 13,039 12,929 110 350 13,970 2,756 11,214 14,571 2.950 $ $ 11,621 $ Net income per share: Basic $ 2.65 S 2.63 $ 0.02 Diluted $ 2.64 $ 2.61 $ 0.02 Shares used in per-share calculation: Basic 4,236 4,419 4,837 Diluted 4,254 4,453 4,881 CISCO SYSTEMS, INC. Consolidated Statements of Comprehensive Income (Loss) (in millions) July 25, 2020 11,214 July 27, 2019 11,621 July 28, 2018 110 S $ S Years Ended Net income Available-for-sale investments: Change in net unrealized gains and losses, net of tax benefit (expense) of $(84), $(101), and $(11) for fiscal 2020, 2019, and 2018, respectively Net (gains) losses reclassified into earnings, net of tax expense (benefit) of $21, $6, and $104 for fiscal 2020, 2019, and 2018, respectively 336 459 (554) (21) 19 (183) (737) 315 478 Cash flow hedging instruments: Change in unrealized gains and losses, net of tax benefit (expense) of $0, $0, and $(3) for fiscal 2020, 2019, and 2018, respectively Net (gains) losses reclassified into earnings, net of tax (benefit) expense of $0, $0, and $7 for fiscal 2020, 2019, and 2018, respectively 7 18 1 (3) (61) 8 (3) (43) Net change in cumulative translation adjustment and actuarial gains and losses, net of tax benefit (expense) of $(5), $15, and $(8) for fiscal 2020, 2019, and 2018, respectively Other comprehensive income (loss) Comprehensive income (loss) (50) 273 11,487 (250) 225 (160) (940) (830) S $ 11,846 $ CISCO SYSTEMS, INC. Consolidated Statements of Cash Flows (in millions) July 25, 2020 July 27, 2019 July 28, 2018 $ 11,214 $ 11,621 $ 110 1,897 1,570 1,808 1,569 93 (38) (138) 40 2,192 1,576 (134) 900 (322) (350) (24) (269) (244) (219) 66 (107) 84 (797) 96 141 (322) (78) 2,011 (84) 131 (249) (955) 87 312 277 1,407 151 15,831 504 8,118 100 1,205 (110) 83 15,426 13,666 Years Ended Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization, and other Share-based compensation expense Provision (benefit) for receivables Deferred income taxes (Gains) losses on divestitures, investments and other, net Change in operating assets and liabilities, net of effects of acquisitions and divestitures: Accounts receivable Inventories Financing receivables Other assets Accounts payable Income taxes, net Accrued compensation Deferred revenue Other liabilities Net cash provided by operating activities Cash flows from investing activities: Purchases of investments Proceeds from sales of investments Proceeds from maturities of investments Acquisitions and divestitures Purchases of investments in privately held companies Return of investments in privately held companies Acquisition of property and equipment Proceeds from sales of property and equipment Other Net cash provided by investing activities Cash flows from financing activities: Issuances of common stock Repurchases of common stock - repurchase program Shares repurchased for tax withholdings on vesting of restricted stock units Short-term borrowings, original maturities of 90 days or less, net Issuances of debt Repayments of debt Dividends paid Other Net cash used in financing activities Net increase (decrease) in cash, cash equivalents, and restricted cash Cash, cash equivalents, and restricted cash, beginning of fiscal year Cash, cash equivalents, and restricted cash, end of fiscal year (9,212) 5,631 7,975 (327) (190) (2,416) 7,388 12,928 (2,175) (148) 159 (909) 22 (12) 14,837 (14,285) 17,706 15,769 (2,979) (267) 168 (834) 59 (19) 15,318 224 (770) 179 (10) 3,500 655 (2,659) (727) (3,470) (6,720) (6,016) 640 (20,717) (862) 3,446 2,250 (6,780) (5,979) 113 (27,889) 2,779 8,993 11,772 $ 623 (17,547) (703) (2,502) 6,877 (12,375) (5,968) (169) (31,764) (2,780) 11,773 8,993 51 (18,886) 40 11,772 11,812 $ S Supplemental cash flow information: Cash paid for interest Cash paid for income taxes, net S $ 911 603 $ 3,116 $ 892 2,986 S $ 3,911 CISCO SYSTEMS, INC. Consolidated Statements of Equity in millions, except per-share amounts) Shares of Common Stock Common Stock and Additional Paid-In Capital 45,253 Retained Earnings (Accumulated Deficit) 20,838 110 Accumulated Other Comprehensive Income (Loss) 46 Total Equity 4,983 S $ S $ (940) 66,137 110 (940) 623 (17,661) 83 623 (432) (3,950) (13,711) (20) (703) (5,968) (36) (703) (5,968) 9 1,576 45 1,576 21 4,614 S 42.820 $ S (849) 1,233 11,621 21 43,204 11,621 225 640 225 BALANCE AT JULY 29, 2017 Net income Other comprehensive income (loss) Issuance of common stock Repurchase of common stock Shares repurchased for tax withholdings on vesting of restricted stock units Cash dividends declared ($1.24 per common share) Effect of adoption of accounting standards Share-based compensation Purchase acquisitions and other BALANCE AT JULY 28, 2018 Net income Other comprehensive income (loss) Issuance of common stock Repurchase of common stock Shares repurchased for tax withholdings on vesting of restricted stock units Cash dividends declared ($1.36 per common share) Effect of adoption of accounting standards Share-based compensation BALANCE AT JULY 27, 2019 Net income Other comprehensive income (loss) Issuance of common stock Repurchase of common stock Shares repurchased for tax withholdings on vesting of restricted stock units Cash dividends declared ($1.42 per common share) Share-based compensation BALANCE AT JULY 25, 2020 71 (418) 640 (3,902) (16,675) (20,577) (17) (862) (5,979) 3,897 (168) 1,570 40,266 4,250 S S (792) $ (5,903) S 11,214 (862) (5,979) 3,729 1,570 33,571 11,214 273 655 (2,619) 273 61 655 (561) (59) (2,058) (15) (727) (6,016) (727) (6,016) 1,569 37,920 1,569 41,202 4,237 S $ (2,763) $ (519) $ 7. Balance Sheet Details The following tables provide details of selected balance sheet items (in millions): July 25, 2020 11,809 $ $ July 27, 2019 11,750 21 Cash and cash equivalents Restricted cash included in other current assets Restricted cash included in other assets Total cash, cash equivalents, and restricted cash 3 1 S 11,812 $ 11,772 S 374 456 $ 25 10 Inventories: : Raw materials Work in process Finished goods: Deferred cost of sales Manufactured finished goods Total finished goods Service-related spares Demonstration systems Total 59 542 601 184 109 643 752 225 22 1,383 16 $ 1,282 $ Our provision for inventory was $74 million, $77 million, and $63 million in fiscal 2020, 2019, and 2018, respectively. Property and equipment, net: Gross property and equipment: Land, buildings, and building and leasehold improvements $ Computer equipment and related software Production, engineering, and other equipment Operating lease assets Furniture, fixtures and other Total gross property and equipment Less: accumulated depreciation and amortization Total 4,545 922 5,711 485 4,252 $ 875 5,163 337 387 11,014 (8,561) 2,453 $ 376 12.039 (9,250) 2,789 S 12,551 $ 7,895 20,446 $ 11,709 6,758 18,467 S Deferred revenue: Service Product Total Reported as: Current Noncurrent Total S 11,406 $ 9,040 20,446 $ 10,668 7,799 18,467 $ $ 9,603 Remaining Performance Obligations: Product Service Total 11,261 $ 17,093 28,354 $ 15,702 25,305 S The following table presents this disaggregation of revenue (in millions): July 25, 2020 July 27, 2019 July 28, 2018 Years Ended Revenue: Infrastructure Platforms $ $ Applications Security Other Products 27,122 5,568 3,154 30,099 5,803 2,821 281 28,286 5,036 2,388 999 135 Total Product 35,978 13,323 49,301 39,005 12,899 36,709 12,621 Services Total (1) $ $ 51,904 $ 49,330 Question 1 1 points Sau According to Cisco's Revenue Recognition footnote: we recognize revenue upon transfer of control of promised goods or services in a contract with a customer in an amount that reflects the consideration we expect to receive in exchange for those products or services. True False Question 2 According to Cisco's Revenue Recognition footnote: our contracts never contain multiple performance obligations. True False Question 3 1 points Save An Cisco's Cash and Cash Equivalents: a. include all highly liquid investments purchased with an original or remaining maturity of three months or less at the date of purchase to be cash equivalents O b. are maintained with various financial institutions. C. consist of U.S. government, U.S. government agency, corporate debt, and U.S. agency mortgage-backed securities. d. anwers a and b are correct. Question 4 The total revenue amount stated on Cisco's income statement includes credit sales. True False Question 5 At the most recent balance sheet date, the amount of cash that Cisco expected to collect from sales on account to its customers was (in millions): a. $5,615 b.$5,472 c. $49,301 d. $11,214 Question 6 At the most recent balance sheet date, how much did Cisco's customers owe in total from sales on account (in millions)? a. $5,615 O b. $5,472 c. $143 O d. $49,301 e. none of the above answers are correct. Question 7 Cisco's estimate of uncollectible accounts receivable at the most recent balance sheet date was (in millions): a. $5,472 b. $143 c. $5,615 d. $5,329 Question 8 When Cisco writes off an uncollectible accounts receivable its total assets: a. decrease b.remains unchanged c. increase d. none of the above answers are correct. Question 9 Net income when Cisco writes off an uncollectible accounts receivable. a. is not affected b. decreases C. decreases O d. none of the above answers are correct