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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
dollars in millions
ASSETS
Current assets:
Cash $
Shortterm investments
Accounts receivable
Inventories
Other current assets
Total current assets
Longterm investments
Property, plant, and equipment, net
Other noncurrent assets
Total assets $
LIABILITIES AND STOCKHOLDERS EQUITY
Current Liabilities:
Accounts payable $
Accrued expenses
Unearned revenue
Shortterm debt
Total current liabilities
Longterm debt
Other noncurrent liabilities
Total liabilities
Stockholders equity:
Common stock $ par value
Additional paidin capital
Retained earnings
Total stockholders equity
Total liabilities and shareholders' equity $
Assume that the following transactions in millions occurred during the next fiscal year ending on September :
Borrowed $ from banks due in two years.
Purchased additional investments for $ cash; onefifth were long term and the rest were short term.
Purchased property, plant, and equipment; paid $ in cash and signed a shortterm note for $
Issued additional shares of common stock for $ in cash; total par value was $ and the rest was in excess of par value.
Sold shortterm investments costing $ for $ cash.
Declared $ in dividends to be paid at the beginning of the next fiscal year.
P Part
Required:
Prepare a classified balance sheet for Orange at September based on these transactions.
Note: Enter your answers in millions.
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