itation $6$

i

Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's $($simplified$)$ balance sheet from a recent year $($fiscal year ending on the last Saturday of September$).$

$\backslash$table$[[\backslash$table$[[$ORANGE INCORPORATED$],[$CONSOLIDATED BALANCE SHEET$],[$September $28,2019],[($dollars in millions$)]],],[$ASSETS$,],[$Current assets:,$],[$Cash$,$$$13,884],[$Short$-$term investments,$11,265],[$Accounts receivable,$17,509],[$Inventories$,2,116],[$other current assets,$23,939],[$Total current assets,$68,713],[$Long$-$term investments,$130,508],[$Property$,$ plant, and equipment, net,$20,679],[$other noncurrent assets,$12,556],[$Total assets,$$232,456],[\backslash$table$[[$LIABILITIES AND STOCKHOLDERS' EQUITY$],[$Current Liahilitips.$]],\backslash$bar $(2)],[$Current Liabilities:,$],[$Accounts payable,$$30,277],[$Accrued expenses,$18,503],[$Unearned revenue,$8,515],[$Short$-$term debt,$6,325],[$Total current liabilities,$63,620],[$Long$-$term debt,$29,066],[$Other noncurrent liabilities,$27,932],[$Total liabilities,$120,618],[$Stockholders$\text{'}$ equity:,$],[$Common stock $($$$0\mathrm{.}00001$ par value$),1.],[$Additional paid$-$in capital,$23,712],[$Retained earnings,$88,125],[$Total stockholders' equity,$111,838],[$Total liabilities and shareholders' equity,$$232,456]]$

Assume that the following transactions $($in millions$)$ occurred during the next fiscal year $($ending on September $26,2020)$:

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Nextitation $6$

i

Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's $($simplified$)$ balance sheet from a recent year $($fiscal year ending on the last Saturday of September$).$

$\backslash$table$[[\backslash$table$[[$ORANGE INCORPORATED$],[$CONSOLIDATED BALANCE SHEET$],[$September $28,2019],[($dollars in millions$)]],],[$ASSETS$,],[$Current assets:,$],[$Cash$,$$$13,884],[$Short$-$term investments,$11,265],[$Accounts receivable,$17,509],[$Inventories$,2,116],[$other current assets,$23,939],[$Total current assets,$68,713],[$Long$-$term investments,$130,508],[$Property$,$ plant, and equipment, net,$20,679],[$other noncurrent assets,$12,556],[$Total assets,$$232,456],[\backslash$table$[[$LIABILITIES AND STOCKHOLDERS' EQUITY$],[$Current Liahilitips.$]],\backslash$bar $(2)],[$Current Liabilities:,$],[$Accounts payable,$$30,277],[$Accrued expenses,$18,503],[$Unearned revenue,$8,515],[$Short$-$term debt,$6,325],[$Total current liabilities,$63,620],[$Long$-$term debt,$29,066],[$Other noncurrent liabilities,$27,932],[$Total liabilities,$120,618],[$Stockholders$\text{'}$ equity:,$],[$Common stock $($$$0\mathrm{.}00001$ par value$),1.],[$Additional paid$-$in capital,$23,712],[$Retained earnings,$88,125],[$Total stockholders' equity,$111,838],[$Total liabilities and shareholders' equity,$$232,456]]$

Assume that the following transactions $($in millions$)$ occurred during the next fiscal year $($ending on September $26,2020)$:

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$3$ of $4$

NextAssume that the following transactions $($in millions$)$ occurred during the next fiscal year $($ending on September $26,2020)$:

a$.$ Borrowed $$18,274$ from banks due in two years.

b$.$ Purchased additional investments for $$21,700$ cash; one$-$fifth were long term and the rest were short term.

c$.$ Purchased property, plant, and equipment; paid $$9,578$ in cash and signed a short$-$term note for $$1,418.$

d$.$ Issued additional shares of common stock for $$1,476$ in cash; total par value was $$1$ and the rest was in excess of par

value.

e$.$ Sold short$-$term investments costing $$19,016$ for $$19,016$ cash.

f$.$ Declared $$11,133$ in dividends to be paid at the beginning of the next fiscal year.

P$2-5$ Part $3$

Required:

Prepare a trial balance at September $26,2020.$

Note: Enter your answers in millions.