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Forecast Income Statement and Balance Sheet Following 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. \begin{tabular}{|c|c|} \hline \begin{tabular}{c} Medtronic PLC \\ Consolidated Balance Sheet \\ $ millions \end{tabular} & April 26, 2019 \\ \hline \multicolumn{2}{|l|}{ Current assets } \\ \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 \multicolumn{2}{|l|}{ Current liabilities } \\ \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 \multicolumn{2}{|l|}{ Shareholders' equity } \\ \hline Ordinary shares & 0 \\ \hline Additional paid-in capital & 24,963 \\ \hline Retained earnings & 26,270 \\ \hline Accumulated other comprehensive loss & (2,711) \\ \hline Total shareholders' equity & 48,522 \\ \hline Noncontrolling interests & 121 \\ \hline Total equity & 48,643 \\ \hline Total liabilities and equity & $87,716 \\ \hline \end{tabular} Income Statement Balance Sheet Use the following assumptions to prepare a forecast of the company's balance sheet for fiscal year 2020. Note: Use negative signs with answers, when appropriate. \begin{tabular}{|c|c|c|} \hline \begin{tabular}{c} Medtronic PLC \\ Consolidated Balance Sheet \\ $ millions \end{tabular} & & 2020 \\ \hline Current assets & & \\ \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 & & 900 \\ \hline Total current assets & & 20,723 \\ \hline Property, plant, and equipment, net & & 4,675 \\ \hline Goodwill & & 39,959 \\ \hline Other intangible assets, net & & 20,560 \\ \hline Tax assets & & 638 \\ \hline Other assets & & 1,014 \\ \hline Total assets & $ & 87,569 \\ \hline Current liabilities & & \\ \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 & & 318 \\ \hline Total liabilities & & 39,043 \\ \hline Shareholders' equity & & \\ \hline Ordinary shares & & 0 \\ \hline Additional paid-in capital & & 24,846 \\ \hline Retained earnings & & 26,270 \\ \hline Accumulated other comprehensive loss & & 2,711 \\ \hline Total shareholders' equity & & 53,827 \\ \hline Noncontrolling interests & & 121 \\ \hline Total equity & & 53,948 \\ \hline Total liabilities and equity & $ & 87,569 \\ \hline \end{tabular} Forecast Income Statement and Balance Sheet Following 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. \begin{tabular}{|c|c|} \hline \begin{tabular}{c} Medtronic PLC \\ Consolidated Balance Sheet \\ $ millions \end{tabular} & April 26, 2019 \\ \hline \multicolumn{2}{|l|}{ Current assets } \\ \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 \multicolumn{2}{|l|}{ Current liabilities } \\ \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 \multicolumn{2}{|l|}{ Shareholders' equity } \\ \hline Ordinary shares & 0 \\ \hline Additional paid-in capital & 24,963 \\ \hline Retained earnings & 26,270 \\ \hline Accumulated other comprehensive loss & (2,711) \\ \hline Total shareholders' equity & 48,522 \\ \hline Noncontrolling interests & 121 \\ \hline Total equity & 48,643 \\ \hline Total liabilities and equity & $87,716 \\ \hline \end{tabular} Income Statement Balance Sheet Use the following assumptions to prepare a forecast of the company's balance sheet for fiscal year 2020. Note: Use negative signs with answers, when appropriate. \begin{tabular}{|c|c|c|} \hline \begin{tabular}{c} Medtronic PLC \\ Consolidated Balance Sheet \\ $ millions \end{tabular} & & 2020 \\ \hline Current assets & & \\ \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 & & 900 \\ \hline Total current assets & & 20,723 \\ \hline Property, plant, and equipment, net & & 4,675 \\ \hline Goodwill & & 39,959 \\ \hline Other intangible assets, net & & 20,560 \\ \hline Tax assets & & 638 \\ \hline Other assets & & 1,014 \\ \hline Total assets & $ & 87,569 \\ \hline Current liabilities & & \\ \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 & & 318 \\ \hline Total liabilities & & 39,043 \\ \hline Shareholders' equity & & \\ \hline Ordinary shares & & 0 \\ \hline Additional paid-in capital & & 24,846 \\ \hline Retained earnings & & 26,270 \\ \hline Accumulated other comprehensive loss & & 2,711 \\ \hline Total shareholders' equity & & 53,827 \\ \hline Noncontrolling interests & & 121 \\ \hline Total equity & & 53,948 \\ \hline Total liabilities and equity & $ & 87,569 \\ \hline \end{tabular}
