Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show a complete step-by-step solution thank you! Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC.

Please show a complete step-by-step solution thank you!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed 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}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

3rd Edition

9780078025525, 9780077517359, 77517350, 978-0077398194

More Books

Students also viewed these Accounting questions

Question

Describe the primary concerns and hopes of ecopsychologists.

Answered: 1 week ago