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*Need the answers for the balance sheet. I have some answers in already, but if they are incorrect please correct them Use the following assumptions
*Need the answers for the balance sheet. I have some answers in already, but if they are incorrect please correct them
Use the following assumptions to prepare a forecast of the companys balance sheet for fiscal year 2020. Note: Format each answer to two decimal places. Use Increase Decimal or Decrease Decimal to adjust decimal places. Do not round answers. Then enter the answers into the provided spaces below with _two decimal places_. Note: Use negative signs with answers, when appropriate. for the numbers
orecast Income Statement and Balance Sheet collowing are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC Consolidated Balance Sheet $ millions April 26, 2019 Current assets \begin{tabular}{|l|r|} \hline Cash and cash equivalents & $4,393 \\ \hline Investments & 5,455 \\ \hline Accounts receivable, net & 6,222 \\ \hline Inventories, net & 3,753 \\ \hline Other current assets & 986 \\ \hline Total current assets & 20,809 \\ \hline Property, plant, and equipment, net & 4,675 \\ \hline Goodwill & 39,959 \\ \hline Other intangible assets, net & 20,560 \\ \hline Tax assets & 699 \\ \hline Other assets & 1,014 \\ \hline Total assets & $87,716 \\ \hline Current liabilities & \\ \hline \hline Current debt obligations & $838 \\ \hline Accounts payable & 1,953 \\ \hline Accrued compensation & 2,189 \\ \hline Accrued income taxes & 567 \\ \hline Other accrued expenses & 2,925 \\ \hline Total current liabilities & 8,472 \\ \hline Long-term debt & 24,486 \\ \hline Accrued compensation and retirement benefits & 1,651 \\ \hline Accrued income taxes & 2,838 \\ \hline Deferred tax liabilities & 1,278 \\ \hline Other liabilities & 348 \\ \hline Total liabilities & 39,073 \\ \hline \end{tabular} Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity \begin{tabular}{|r|} \hline 0 \\ \hline 24,963 \\ \hline 26,270 \\ \hline(2,711) \\ \hline 48,522 \\ \hline 121 \\ \hline 48,643 \\ \hline$87,716 \\ \hline \hline \end{tabular} Balance sheet assumptions \begin{tabular}{|l|r|l|} \hline Investments & & No change \\ \hline Accounts receivable, less allowance & 20.4% & of net sales \\ \hline Inventories, net & 12.3% & of net sales \\ \hline Other current assets & 7% & of net sales \\ \hline Goodwill & No change \\ \hline Tax assets & 5% & of net sales \\ \hline Other assets & 3.3% & of net sales \\ \hline Accounts payable & 6.4% & of net sales \\ \hline Accrued compensation (current liability) & 7.2% & of net sales \\ \hline Accrued compensation and retirement benefits (noncurrent liability) & & No change \\ \hline Accrued income taxes (current liability) & 1.9% & of net sales \\ \hline Other accrued expenses & 9.6% & of net sales \\ \hline Accrued income taxes (noncurrent liability) & 9.3% & of net sales \\ \hline Deferred tax liabilities & 4.2% & of net sales \\ \hline Other liabilities & 2.5% & of net sales \\ \hline Ordinary shares & $2,058 & million \\ \hline Accumulated other comprehensive loss & $950 & million \\ \hline Net income attributable to noncontrolling interest & $1,914 & million \\ \hline Dividends in FY2020 & $838 & million \\ \hline CAPEX in FY2019 & $19 & million \\ \hline Depreciation expense in FY2020 & $2,853 & million \\ \hline Amortization expense in FY2020 & $1,134 & $ million, forecast CAPEX at historic \% of net sales \\ \hline Debt due in FY2020 & $2021 & \\ \hline Debt due in FY2021 & & \\ \hline \end{tabular} Medtronic PLC Consolidated Balance Sheet $ millions 2020 Current assets Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity $ orecast Income Statement and Balance Sheet collowing are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC Consolidated Balance Sheet $ millions April 26, 2019 Current assets \begin{tabular}{|l|r|} \hline Cash and cash equivalents & $4,393 \\ \hline Investments & 5,455 \\ \hline Accounts receivable, net & 6,222 \\ \hline Inventories, net & 3,753 \\ \hline Other current assets & 986 \\ \hline Total current assets & 20,809 \\ \hline Property, plant, and equipment, net & 4,675 \\ \hline Goodwill & 39,959 \\ \hline Other intangible assets, net & 20,560 \\ \hline Tax assets & 699 \\ \hline Other assets & 1,014 \\ \hline Total assets & $87,716 \\ \hline Current liabilities & \\ \hline \hline Current debt obligations & $838 \\ \hline Accounts payable & 1,953 \\ \hline Accrued compensation & 2,189 \\ \hline Accrued income taxes & 567 \\ \hline Other accrued expenses & 2,925 \\ \hline Total current liabilities & 8,472 \\ \hline Long-term debt & 24,486 \\ \hline Accrued compensation and retirement benefits & 1,651 \\ \hline Accrued income taxes & 2,838 \\ \hline Deferred tax liabilities & 1,278 \\ \hline Other liabilities & 348 \\ \hline Total liabilities & 39,073 \\ \hline \end{tabular} Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity \begin{tabular}{|r|} \hline 0 \\ \hline 24,963 \\ \hline 26,270 \\ \hline(2,711) \\ \hline 48,522 \\ \hline 121 \\ \hline 48,643 \\ \hline$87,716 \\ \hline \hline \end{tabular} Balance sheet assumptions \begin{tabular}{|l|r|l|} \hline Investments & & No change \\ \hline Accounts receivable, less allowance & 20.4% & of net sales \\ \hline Inventories, net & 12.3% & of net sales \\ \hline Other current assets & 7% & of net sales \\ \hline Goodwill & No change \\ \hline Tax assets & 5% & of net sales \\ \hline Other assets & 3.3% & of net sales \\ \hline Accounts payable & 6.4% & of net sales \\ \hline Accrued compensation (current liability) & 7.2% & of net sales \\ \hline Accrued compensation and retirement benefits (noncurrent liability) & & No change \\ \hline Accrued income taxes (current liability) & 1.9% & of net sales \\ \hline Other accrued expenses & 9.6% & of net sales \\ \hline Accrued income taxes (noncurrent liability) & 9.3% & of net sales \\ \hline Deferred tax liabilities & 4.2% & of net sales \\ \hline Other liabilities & 2.5% & of net sales \\ \hline Ordinary shares & $2,058 & million \\ \hline Accumulated other comprehensive loss & $950 & million \\ \hline Net income attributable to noncontrolling interest & $1,914 & million \\ \hline Dividends in FY2020 & $838 & million \\ \hline CAPEX in FY2019 & $19 & million \\ \hline Depreciation expense in FY2020 & $2,853 & million \\ \hline Amortization expense in FY2020 & $1,134 & $ million, forecast CAPEX at historic \% of net sales \\ \hline Debt due in FY2020 & $2021 & \\ \hline Debt due in FY2021 & & \\ \hline \end{tabular} Medtronic PLC Consolidated Balance Sheet $ millions 2020 Current assets Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity $Step by Step Solution
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