Refer to the 10K for Deere & Company. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in millions. *Other current assets include: Receivables from unconsolidated affiliates, Financing receivables - net, Financing receivables securitized - net, and Other receivables. Deferred income tax liabilities are longterm. 2. The company projects the following to occur in the next fiscal year: - Accounts payable will decrease by 5%. - Other current liabilities are expected to increase by 5%. - Cash flow from operations is expected to increase by 51%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations. Round your answer to the nearest million. 3. Compute the forecasted current ratio for the next fiscal year. Round your answer to two decimal place 4. Compute the forecasted quick ratio for the next fiscal year. Round your answer to two decimal places. 5. Compute the forecasted cash ratio for the next fiscal year. Round your answer to two decimal places. 6. Compute the forecasted operating cash flow ratio for the next fiscal year. Round your answer to two decimal places. As of October 30, 2022 and October 31, 2021 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{3}{|c|}{\begin{tabular}{l} EQUIPMENT \\ OPERATIONS \\ \end{tabular}} & \multicolumn{3}{|c|}{\begin{tabular}{l} FINANCIAL \\ SERVICES \\ \end{tabular}} & \multicolumn{3}{|c|}{ ELIMINATIONS } & \multicolumn{3}{|c|}{ CONSOLIDATED } & \\ \hline & 2022 & 2021 & 2020 & 2022 & 2021 & 2020 & 2022 & 2021 & 2020 & 2022 & 2021 & 2020 & \\ \hline \multicolumn{14}{|l|}{ Cash Flows from Operating Activities } \\ \hline Net income & $6,250 & $5,084 & $2,187 & 880 & 881 & 566 & & & & $7,130 & $5,965 & $2,753 & \\ \hline \multicolumn{14}{|l|}{\begin{tabular}{l} Adjustments to reconcile net income to net cash \\ provided by operating activities: \end{tabular}} \\ \hline Provision (credit) for credit losses & 3 & 7 & 5 & 189 & (13) & 105 & & & & 192 & (6) & 110 & \\ \hline Provision for depreciation and amortization & 1,041 & 1,043 & 1,016 & 1,050 & 1,140 & 1,227 & $(196) & (133) & (125) & 1,895 & 2,050 & 2,118 & 13 \\ \hline Impairment charges & 88 & 50 & 162 & & & 32 & & & & 88 & 50 & 194 & \\ \hline Share-based compensation expense & & & & & & & 85 & 82 & 81 & 85 & 82 & 81 & 14 \\ \hline Loss on sale of businesses and unconsolidated affiliates & & & 24 & & & & & & & & & 24 & \\ \hline \begin{tabular}{l} Gain on remeasurement of previously held \\ equity investment \end{tabular} & (326) & & & & & & & & & (326) & & & \\ \hline Undistributed earnings of Financial Services & 444 & 555 & 386 & & & & (444) & (555) & (386) & & & & 15 \\ \hline Provision (credit) for deferred income taxes & 8 & (369) & 105 & (74) & (72) & (116) & & & & (66) & (441) & (11) & \\ \hline \multicolumn{14}{|l|}{ Changes in assets and liabilities: } \\ \hline Trade, notes, and financing receivables related to sales & (189) & (105) & 373 & & & & (2,294) & 1,074 & 1,636 & (2,483) & 969 & 2,009 & 16,18,19 \\ \hline Inventories & (1,924) & (1,835) & 1,011 & & & & (167) & (662) & (614) & (2,091) & (2,497) & 397 & 17 \\ \hline Accounts payable and accrued expenses & 1,444 & 1,589 & (331) & 143 & 57 & (1) & (454) & 238 & 325 & 1,133 & 1,884 & (7) & 18 \\ \hline Accrued income taxes payable/receivable & 166 & 13 & (14) & (25) & (2) & 22 & & & & 141 & 11 & 8 & \\ \hline Retirement benefits & (1,016) & 30 & (544) & 1 & (1) & 7 & & & & (1,015) & 29 & (537) & \\ \hline Other & 250 & (162) & 380 & (287) & (25) & 134 & 53 & (183) & (170) & 16 & (370) & 344 & 13,14,17 \\ \hline Net cash provided by operating activities & 6,239 & 5,900 & 4,760 & 1,877 & 1,965 & 1,976 & (3,417) & (139) & 747 & 4,699 & 7,726 & 7,483 & \\ \hline \multicolumn{14}{|l|}{ Cash Flows from Investing Activities } \\ \hline \begin{tabular}{l} Collections of receivables (excluding receivables \\ related to sales) \end{tabular} & & & & 22,400 & 20,527 & 18,829 & (1,493) & (1,568) & (1,448) & 20,907 & 18,959 & 17,381 & 16 \\ \hline Proceeds from sales of equipment on operating leases & & & & 2,093 & 2,094 & 1,783 & & & & 2,093 & 2,094 & 1,783 & \\ \hline \begin{tabular}{l} Cost of receivables acquired (excluding receivables \\ related to sales) \end{tabular} & & & & (26,903) & (25,305) & (21,360) & 603 & 1,652 & 1,395 & (26,300) & (23,653) & (19,965) & 16 \\ \hline Acquisitions of businesses, net of cash acquired & (498) & (244) & (66) & & & & & & & (498) & (244) & (66) & \\ \hline Purchases of property and equipment & (1,131) & (845) & (816) & (3) & (3) & (4) & & & & (1,134) & (848) & (820) & \\ \hline Cost of equipment on operating leases acquired & & & & (2,879) & (2,627) & (2,666) & 225 & 895 & 830 & (2,654) & (1,732) & (1,836) & 17 \\ \hline Decrease (increase) in trade and wholesale receivables & & & & (3,601) & 1,364 & 1,999 & 3,601 & (1,364) & (1,999) & & & & 16 \\ \hline Collateral on derivatives - net & 5 & (7) & (6) & (647) & (274) & 274 & & & & (642) & (281) & 268 & \\ \hline Other & (206) & 62 & (103) & (81) & (84) & (71) & 30 & (23) & 110 & (257) & (45) & (64) & 15,19 \\ \hline Net cash used for investing activities & (1,830) & (1,034) & (991) & (9,621) & (4,308) & (1,216) & 2,966 & (408) & (1,112) & (8,485) & (5,750) & (3,319) & \\ \hline \multicolumn{14}{|l|}{ Cash Flows from Financing Activities } \\ \hline Increase (decrease) in total short-term borrowings & 136 & 65 & (177) & 3,716 & 753 & (1,183) & & & & 3,852 & 818 & (1,360) & \\ \hline intercompany receivables/payables & (1,633) & (354) & (3,207) & 1,633 & 354 & 3,207 & & & & & & & \\ \hline Proceeds from long-term borrowings & 138 & 11 & 4,586 & 10,220 & 8,711 & 4,685 & & & & 10,358 & 8,722 & 9,271 & \\ \hline Payments of long-term borrowings & (1,356) & (94) & (607) & (7,089) & (6,996) & (6,776) & & & & (8,445) & (7,090) & (7,383) & \\ \hline Proceeds from issuance of common stock & 63 & 148 & 331 & & & & & & & 63 & 148 & 331 & \\ \hline Repurchases of common stock & (3,597) & (2,538) & (750) & & & & & & & (3,597) & (2,538) & (750) & \\ \hline Dividends paid & (1,313) & (1,040) & (956) & (444) & (555) & (386) & 444 & 555 & 386 & (1,313) & (1,040) & (956) & 15 \\ \hline Other & (57) & \begin{tabular}{r} 11,0401 \\ \end{tabular} & (105) & (42) & (29) & (7) & 7 & (8) & (21) & (92) & \begin{tabular}{r} (98) \\ \end{tabular} & (133) & 15 \\ \hline Net cash provided by (used for) financing activities & 5 & (3,863) & (885) & 7,994 & 2,238 & (460) & 451 & 547 & 365 & 826 & (1,078) & (980) & \\ \hline \begin{tabular}{l} Effect of Exchange Rate Changes on Cash, Cash \\ Equivalents, and Restricted Cash \end{tabular} & (209) & 41 & 76 & (15) & 14 & (44) & & & & (224) & 55 & 32 & \\ \hline \begin{tabular}{l} Net Increase (Decrease) in Cash, Cash Equivalents, \\ and Restricted Cash \end{tabular} & (3,419) & 1,044 & 2,960 & 235 & (91) & 256 & & & & (3,184) & 953 & 3,216 & \\ \hline \begin{tabular}{l} Cash, Cash Equivalents, and Restricted Cash at \\ Beginning of Year \end{tabular} & 7,200 & 6,156 & 3,196 & 925 & 1,016 & 760 & & & & 8,125 & 7,172 & 3,956 & \\ \hline \begin{tabular}{l} Cash, Cash Equivalents, and Restricted Cash at \\ End of Year \end{tabular} & $3,781 & $7,200 & $6,156 & $1,160 & 925 & $1,016 & & & & $4,941 & $8,125 & $,7,172 & \\ \hline \multicolumn{14}{|l|}{ Components of cash, cashequivalents, and restricted cash } \\ \hline Cash and cash equivalents & $3,767 & $7,188 & $6,145 & $1,007 & 829 & 921 & & & & $4,774 & $8,017 & $7,066 & \\ \hline Restricted cash (Other assets) & 14 & 12 & 11 & 153 & 96 & 95 & & & & 167 & 108 & 106 & \\ \hline Total cash, cash equivalents, and restricted cash & $3,781 & $7,200 & $6,156 & $1,160 & 925 & $1,016 & & & & $4,941 & $8,125 & 7,172 & \\ \hline \end{tabular} Refer to the 10K for Deere & Company. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in millions. *Other current assets include: Receivables from unconsolidated affiliates, Financing receivables - net, Financing receivables securitized - net, and Other receivables. Deferred income tax liabilities are longterm. 2. The company projects the following to occur in the next fiscal year: - Accounts payable will decrease by 5%. - Other current liabilities are expected to increase by 5%. - Cash flow from operations is expected to increase by 51%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations. Round your answer to the nearest million. 3. Compute the forecasted current ratio for the next fiscal year. Round your answer to two decimal place 4. Compute the forecasted quick ratio for the next fiscal year. Round your answer to two decimal places. 5. Compute the forecasted cash ratio for the next fiscal year. Round your answer to two decimal places. 6. Compute the forecasted operating cash flow ratio for the next fiscal year. Round your answer to two decimal places. As of October 30, 2022 and October 31, 2021 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline & \multicolumn{3}{|c|}{\begin{tabular}{l} EQUIPMENT \\ OPERATIONS \\ \end{tabular}} & \multicolumn{3}{|c|}{\begin{tabular}{l} FINANCIAL \\ SERVICES \\ \end{tabular}} & \multicolumn{3}{|c|}{ ELIMINATIONS } & \multicolumn{3}{|c|}{ CONSOLIDATED } & \\ \hline & 2022 & 2021 & 2020 & 2022 & 2021 & 2020 & 2022 & 2021 & 2020 & 2022 & 2021 & 2020 & \\ \hline \multicolumn{14}{|l|}{ Cash Flows from Operating Activities } \\ \hline Net income & $6,250 & $5,084 & $2,187 & 880 & 881 & 566 & & & & $7,130 & $5,965 & $2,753 & \\ \hline \multicolumn{14}{|l|}{\begin{tabular}{l} Adjustments to reconcile net income to net cash \\ provided by operating activities: \end{tabular}} \\ \hline Provision (credit) for credit losses & 3 & 7 & 5 & 189 & (13) & 105 & & & & 192 & (6) & 110 & \\ \hline Provision for depreciation and amortization & 1,041 & 1,043 & 1,016 & 1,050 & 1,140 & 1,227 & $(196) & (133) & (125) & 1,895 & 2,050 & 2,118 & 13 \\ \hline Impairment charges & 88 & 50 & 162 & & & 32 & & & & 88 & 50 & 194 & \\ \hline Share-based compensation expense & & & & & & & 85 & 82 & 81 & 85 & 82 & 81 & 14 \\ \hline Loss on sale of businesses and unconsolidated affiliates & & & 24 & & & & & & & & & 24 & \\ \hline \begin{tabular}{l} Gain on remeasurement of previously held \\ equity investment \end{tabular} & (326) & & & & & & & & & (326) & & & \\ \hline Undistributed earnings of Financial Services & 444 & 555 & 386 & & & & (444) & (555) & (386) & & & & 15 \\ \hline Provision (credit) for deferred income taxes & 8 & (369) & 105 & (74) & (72) & (116) & & & & (66) & (441) & (11) & \\ \hline \multicolumn{14}{|l|}{ Changes in assets and liabilities: } \\ \hline Trade, notes, and financing receivables related to sales & (189) & (105) & 373 & & & & (2,294) & 1,074 & 1,636 & (2,483) & 969 & 2,009 & 16,18,19 \\ \hline Inventories & (1,924) & (1,835) & 1,011 & & & & (167) & (662) & (614) & (2,091) & (2,497) & 397 & 17 \\ \hline Accounts payable and accrued expenses & 1,444 & 1,589 & (331) & 143 & 57 & (1) & (454) & 238 & 325 & 1,133 & 1,884 & (7) & 18 \\ \hline Accrued income taxes payable/receivable & 166 & 13 & (14) & (25) & (2) & 22 & & & & 141 & 11 & 8 & \\ \hline Retirement benefits & (1,016) & 30 & (544) & 1 & (1) & 7 & & & & (1,015) & 29 & (537) & \\ \hline Other & 250 & (162) & 380 & (287) & (25) & 134 & 53 & (183) & (170) & 16 & (370) & 344 & 13,14,17 \\ \hline Net cash provided by operating activities & 6,239 & 5,900 & 4,760 & 1,877 & 1,965 & 1,976 & (3,417) & (139) & 747 & 4,699 & 7,726 & 7,483 & \\ \hline \multicolumn{14}{|l|}{ Cash Flows from Investing Activities } \\ \hline \begin{tabular}{l} Collections of receivables (excluding receivables \\ related to sales) \end{tabular} & & & & 22,400 & 20,527 & 18,829 & (1,493) & (1,568) & (1,448) & 20,907 & 18,959 & 17,381 & 16 \\ \hline Proceeds from sales of equipment on operating leases & & & & 2,093 & 2,094 & 1,783 & & & & 2,093 & 2,094 & 1,783 & \\ \hline \begin{tabular}{l} Cost of receivables acquired (excluding receivables \\ related to sales) \end{tabular} & & & & (26,903) & (25,305) & (21,360) & 603 & 1,652 & 1,395 & (26,300) & (23,653) & (19,965) & 16 \\ \hline Acquisitions of businesses, net of cash acquired & (498) & (244) & (66) & & & & & & & (498) & (244) & (66) & \\ \hline Purchases of property and equipment & (1,131) & (845) & (816) & (3) & (3) & (4) & & & & (1,134) & (848) & (820) & \\ \hline Cost of equipment on operating leases acquired & & & & (2,879) & (2,627) & (2,666) & 225 & 895 & 830 & (2,654) & (1,732) & (1,836) & 17 \\ \hline Decrease (increase) in trade and wholesale receivables & & & & (3,601) & 1,364 & 1,999 & 3,601 & (1,364) & (1,999) & & & & 16 \\ \hline Collateral on derivatives - net & 5 & (7) & (6) & (647) & (274) & 274 & & & & (642) & (281) & 268 & \\ \hline Other & (206) & 62 & (103) & (81) & (84) & (71) & 30 & (23) & 110 & (257) & (45) & (64) & 15,19 \\ \hline Net cash used for investing activities & (1,830) & (1,034) & (991) & (9,621) & (4,308) & (1,216) & 2,966 & (408) & (1,112) & (8,485) & (5,750) & (3,319) & \\ \hline \multicolumn{14}{|l|}{ Cash Flows from Financing Activities } \\ \hline Increase (decrease) in total short-term borrowings & 136 & 65 & (177) & 3,716 & 753 & (1,183) & & & & 3,852 & 818 & (1,360) & \\ \hline intercompany receivables/payables & (1,633) & (354) & (3,207) & 1,633 & 354 & 3,207 & & & & & & & \\ \hline Proceeds from long-term borrowings & 138 & 11 & 4,586 & 10,220 & 8,711 & 4,685 & & & & 10,358 & 8,722 & 9,271 & \\ \hline Payments of long-term borrowings & (1,356) & (94) & (607) & (7,089) & (6,996) & (6,776) & & & & (8,445) & (7,090) & (7,383) & \\ \hline Proceeds from issuance of common stock & 63 & 148 & 331 & & & & & & & 63 & 148 & 331 & \\ \hline Repurchases of common stock & (3,597) & (2,538) & (750) & & & & & & & (3,597) & (2,538) & (750) & \\ \hline Dividends paid & (1,313) & (1,040) & (956) & (444) & (555) & (386) & 444 & 555 & 386 & (1,313) & (1,040) & (956) & 15 \\ \hline Other & (57) & \begin{tabular}{r} 11,0401 \\ \end{tabular} & (105) & (42) & (29) & (7) & 7 & (8) & (21) & (92) & \begin{tabular}{r} (98) \\ \end{tabular} & (133) & 15 \\ \hline Net cash provided by (used for) financing activities & 5 & (3,863) & (885) & 7,994 & 2,238 & (460) & 451 & 547 & 365 & 826 & (1,078) & (980) & \\ \hline \begin{tabular}{l} Effect of Exchange Rate Changes on Cash, Cash \\ Equivalents, and Restricted Cash \end{tabular} & (209) & 41 & 76 & (15) & 14 & (44) & & & & (224) & 55 & 32 & \\ \hline \begin{tabular}{l} Net Increase (Decrease) in Cash, Cash Equivalents, \\ and Restricted Cash \end{tabular} & (3,419) & 1,044 & 2,960 & 235 & (91) & 256 & & & & (3,184) & 953 & 3,216 & \\ \hline \begin{tabular}{l} Cash, Cash Equivalents, and Restricted Cash at \\ Beginning of Year \end{tabular} & 7,200 & 6,156 & 3,196 & 925 & 1,016 & 760 & & & & 8,125 & 7,172 & 3,956 & \\ \hline \begin{tabular}{l} Cash, Cash Equivalents, and Restricted Cash at \\ End of Year \end{tabular} & $3,781 & $7,200 & $6,156 & $1,160 & 925 & $1,016 & & & & $4,941 & $8,125 & $,7,172 & \\ \hline \multicolumn{14}{|l|}{ Components of cash, cashequivalents, and restricted cash } \\ \hline Cash and cash equivalents & $3,767 & $7,188 & $6,145 & $1,007 & 829 & 921 & & & & $4,774 & $8,017 & $7,066 & \\ \hline Restricted cash (Other assets) & 14 & 12 & 11 & 153 & 96 & 95 & & & & 167 & 108 & 106 & \\ \hline Total cash, cash equivalents, and restricted cash & $3,781 & $7,200 & $6,156 & $1,160 & 925 & $1,016 & & & & $4,941 & $8,125 & 7,172 & \\ \hline \end{tabular}