Refine Assumptions for PPE Forecast Following are the income statement and balance sheet for Medtronic PLC$.$ Medtronic PLCConsolidated Statement of Income For Fiscal Year Ended$ millionsApril $26,2019$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 PLCConsolidated Balance Sheet$ millionsApril $26,2019$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 $2020.$ $ millionsApril $27,2018$ ActualApril $26,2019$ ActualApril $2020$ Forecast Net sales$$35,944$$$36,668$$$33,002$ CAPEX$1,2821,134$ Depreciation expense$985895$ Property, plant, and equipment, gross$12,31110,920$ Property, plant, and equipment, net Answer b$.$ Suppose the company discloses in a press release that accompanies its year$-$end SEC filing that anticipated CAPEX for fiscal year ended April $2020$ is as follows. Company anticipated CAPEX for fiscal year ended April $2020$$$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 Medtronic PLCConsolidated Balance Sheet$ millionsApril $26,2019$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 $2020.$ $ millionsApril $27,2018$ ActualApril $26,2019$ ActualApril $2020$ Forecast Net sales$$35,944$$$36,668$$$33,002$ CAPEX$1,2821,134$ Depreciation expense$985895$ Property, plant, and equipment, gross$12,31110,920$ Property, plant, and equipment, net Answer b$.$ Suppose the company discloses in a press release that accompanies its year$-$end SEC filing that anticipated CAPEX for fiscal year ended April $2020$ is as follows. Company anticipated CAPEX for fiscal year ended April $2020$$$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, netAnswermillion