Refine Assumptions for PPE Forecast Following are the income statement and balance sheet for Medtronic PLC. Medtronic PLC Consolidated Statement of Income For Fiscal Year Ended $ millions April 26, 2019 Net sales $36,668 Costs and expenses Cost of products sold 10,986 Research and development expense 2,796 Selling, general, and administrative expense 12,502 Amortization of intangible assets 2,117 Restructuring charges, net 238 Certain litigation charges, net 199 Other operating expense, net 310 Operating profit 7,520 Other nonoperating income, net (448) Interest expense 1,733 Income before income taxes 6,235 Income tax provision 656 Net income 5,579 Net income loss attributable to noncontrolling interests (23) Net income attributable to Medtronic $5,556 Medtronic PLC Consolidated Balance Sheet $ millions April 26, 2019 Current assets Cash and cash equivalents $5,272 Investments 6,546 Accounts receivable, net 7,466 Inventories, net 4,504 Other current assets 2,573 Total current assets 26,361 Property, plant, and equipment, net 5,610 Goodwill 47,951 Other intangible assets, net 24,672 Tax assets 1,823 Other assets 1,217 Total assets $107,634 Current liabilities Current debt obligations $1,006 Accounts payable 2,344 Accrued compensation 2,627 Accrued income taxes 680 Other accrued expenses 3,510 Total current liabilities 10,167 Long-term debt 29,383 Accrued compensation and retirement benefits 1,981 Accrued income taxes 3,406 Deferred tax liabilities 1,534 Other liabilities 908 Total liabilities 47,379 Shareholders equity Ordinary shares 0 Additional paid-in capital 31,839 Retained earnings 31,524 Accumulated other comprehensive loss (3,253) Total shareholders equity 60,110 Noncontrolling interests 145 Total equity 60,255 Total liabilities and equity $107,634 Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. a. Use the financial statements along with the additional information below to forecast property, plant and equipment, net for fiscal year ended April 2020. $ millions April 27, 2018 Actual April 26, 2019 Actual April 2020 Forecast Net sales $35,944 $36,668 $33,002 CAPEX 1,282 1,134 Depreciation expense 985 895 Property, plant, and equipment, gross 12,311 10,920 Property, plant, and equipment, net Answer b. Suppose the company discloses in a press release that accompanies its year-end SEC filing that anticipated CAPEX for fiscal year ended April 2020 is as follows. Company anticipated CAPEX for fiscal year ended April 2020 $1,800 million Use this guidance to refine your forecast of property, plant and equipment, net for fiscal year ended April 2020. Property, plant, and equipment, net Answer million