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). $ 13,944 11,313 17,583 2,124 24,029 68,993 131,040 20,763 12,608 $ 233, 404 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 ($ 0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 30,401 18,579 8,551 6,351 63,882 29,186 28,046 121,114 1 24,312 87,977 112,290 $233, 404 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $18,284 from banks due in two years. b. Purchased additional investments for $22,700 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,589 in cash and signed a short-term note for $1,427. d. Issued additional shares of common stock for $1,487 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,026 for $19,026 cash. f. Declared $11,143 in dividends to be paid at the beginning of the next fiscal year. 2. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) Cash Beg. Bal. (a) Beg. Bal. (b) Short-term Investments 11,313 22,700 19,026(e) 13,944 18,284 1,487 19,026 9,589 (c) 22,700 (b) (d) (e) End. Bal. 14,987 End. Bal. 20,452 Accounts Receivable Inventories Beg. Bal. 17,583 Beg. Bal. 2,124 End. Bal. 17,583 End. Bal. 2,124 Other Current Assets Long-term Investments 131,040 Beg. Bal. 24,029 Beg. Bal. End. Bal. 24,029 End. Bal. 131,040 Other Noncurrent Assets Property, Plant, and Equipment 20,763 Beg. Bal. Beg. Bal. 12,608 End. Bal. 20,763 End. Bal. 12,608 Accounts Payable Accrued Expenses Beg. Bal. 30,401 Beg. Bal. 18,579 End. Bal. 30,401 End. Bal. 18,579 Unearned Revenue Short-term Notes Payable 6,351 Beg. Bal. 8,551 Beg. Bal. End. Bal. 8,551 End. Bal. 6,351 Dividends Payable Long-term Debt 29,186 Beg. Bal. Beg. Bal. End. Bal. End. Bal. 29,186 Other Noncurrent Liabilities Common Stock Beg. Bal. 28,046 Beg. Bal. 1 End. Bal. 28,046 End. Bal. 1 Additional Paid-in Capital 24,312 Retained Earnings 87,977 Beg. Bal. Beg. Bal. End. Bal. 24,312 End. Bal. 87,977