Mango Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Mango's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). $ 14,054 11, 401 17, 718 2,138 24,186 69,497 131,998 20,915 12,202 $ 235, 112 MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($e.eeee1 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 30,625 18,717 8,617 6, 398 64,357 29, 484 28, 253 122,814 1 25, 512 87,585 113,298 $235, 112 Assume that the following transactions (in Millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $18,304 from banks due in two years. b. Purchased additional investments for $24.500 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9.610 in cash and signed a short-term note for $1.448. d. Issued additional shares of common stock for $1.507 in cash; total par value was S1 and the rest was in excess of par value. e. Sold short-term investments costing $19.045 for $19,045 cash. f. Declared $11,163 in dividends to be paid at the beginning of the next fiscal year. P2-5 Part 2 2. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) 2. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) Short-term Investments 11,401 Cash 14,054 18,304 1,507 Beg Bal (t) Seg. Bal. (a (d) (e) 11.163 24,500 (b) 9.610 (c) 19,045 End. Bal. 22,564 End. Bal. 18,800 Accounts Receivable 17,718 Inventories 2.138 Beg. Bal. Beg. Bal. End. Bal. 17.718 End. Bal. 2,138 Other Current Assets 24,186 Long-term Investments 131.998 Beg. Bal Beg. Bal. End. Bal. 24,186 End. Bal. 131.998 Property, Plant, and Equipment 20,915 Other Noncurrent Assets 12,702 Beg. Bal Beg. Bal. End. Bal. 20.915 End. Bal. 12,702 Accounts Payable 30,625 Accrued Expenses 18.717 Beg. Bal. Beg. Bal. End. Bal. 30,625 End. Bal. 18,717 Unearned Revenue 8.617 Short-term Notes Payable 6,398 Beg Bal Beg. Bal. End. Bal. 8,617 End. Bal. 6,398 Dividends Payable Long-term Debt 29,404 Beg. Bal. Beg Bal End. Bal. 0 End. Bal. 29,404 Common Stock Other Noncurrent Liabilities 28,253 Beg. Bal. Beg Bat End. Bal. 28,253 End. Bal. Additional Paid-in Capital 25,512 Retained Earnings 87.585 Beg. Bal. Beg Bal End. Bal. 25,512 End. Bal. 87,585