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Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The

Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).
ORANGE INCORPORATED
CONSOLIDATED BALANCE SHEET
September 28,2019
(dollars in millions)
ASSETS
Current assets:
Cash $13,954
Short-term investments 11,321
Accounts receivable 17,595
Inventories 2,125
Other current assets 24,040
Total current assets 69,035
Long-term investments 131,120
Property, plant, and equipment, net 20,776
Other noncurrent assets 12,616
Total assets $233,547
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liabilities:
Accounts payable $30,420
Accrued expenses 18,591
Unearned revenue 8,557
Short-term debt 6,355
Total current liabilities 63,923
Long-term debt 29,205
Other noncurrent liabilities 28,064
Total liabilities 121,192
Stockholders equity:
Common stock ($0.00001 par value)1
Additional paid-in capital 24,412
Retained earnings 87,942
Total stockholders equity 112,355
Total liabilities and shareholders' equity $233,547
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26,2020):
Borrowed $18,287 from banks due in two years.
Purchased additional investments for $23,000 cash; one-fifth were long term and the rest were short term.
Purchased property, plant, and equipment; paid $9,591 in cash and signed a short-term note for $1,430.
Issued additional shares of common stock for $1,489 in cash; total par value was $1 and the rest was in excess of par value.
Sold short-term investments costing $19,028 for $19,028 cash.
Declared $11,146 in dividends to be paid at the beginning of the next fiscal year.
P2-5 Part 4
Required:
4. Prepare a classified balance sheet for Orange at September 26,2020, based on these transactions.
Note: Enter your answers in millions.

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