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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 Mango's (Simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). $ 13,924 11,297 17,559 2,122 24,007 68,909 130,888 20,737 12,592 $ 233, 118 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 ($0.9901 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 30,363 18,555 8,539 6, 343 63,800 29,148 28, 18 120,958 1 23, 912 88, 247 112,160 $233, 118 Assume that the following transactions (In millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $18,279 from banks due in two years. b. Purchased additional Investments for $22.200 cash; one-fifth were long term and the rest were short term. C. Purchased property, plant, and equipment; paid $9,584 In cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term Investments costing $19,021 for $19,021 cash. f. Declared $11,138 In dividends to be paid at the beginning of the next fiscal year. 4. Prepare a classified balance sheet for Mango at September 29, 2018, based on these transactions. (Enter your answers in millions.) MANGO, INC. Balance Sheet (in millions) Assets 0 S 0 Liabilities and stockholders' equity 0 0 0 in 0
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