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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

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 Mangos (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).

MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (dollars in millions)
ASSETS
Current assets:
Cash $ 13,994
Short-term investments 11,353
Accounts receivable 17,644
Inventories 2,130
Other current assets 24,096
Total current assets 69,217
Long-term investments 131,466
Property, plant, and equipment, net 20,831
Other noncurrent assets 12,650
Total assets $ 234,164
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liabilities:
Accounts payable $ 30,501
Accrued expenses 18,641
Unearned revenue 8,581
Short-term notes payable 6,372
Total current liabilities 64,095
Long-term debt 29,284
Other noncurrent liabilities 28,139
Total liabilities 121,518
Stockholders equity:
Common stock ($0.00001 per value) 1
Additional paid-in capital 24,912
Retained earnings 87,733
Total stockholders equity 112,646
Total liabilities and shareholders' equity $ 234,164

Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018):

  1. Borrowed $18,293 from banks due in two years.
  2. Purchased additional investments for $23,600 cash; one-fifth were long term and the rest were short term.
  3. Purchased property, plant, and equipment; paid $9,600 in cash and signed a short-term note for $1,438.
  4. Issued additional shares of common stock for $1,498 in cash; total par value was $1 and the rest was in excess of par value.
  5. Sold short-term investments costing $19,035 for $19,035 cash.
  6. Declared $11,154 in dividends to be paid at the beginning of the next fiscal year.

3. Prepare a trial balance for the period ended September 29, 2018. (Enter your answers in millions.)

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