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 $32,085 Costs and expenses Cost of products sold 9,613 Research and development expense 2,447 Selling, general, and administrative expense 10,939 Amortization of intangible assets 1,852 Restructuring charges, net 208 Certain litigation charges, net 174 Other operating expense, net 271 Operating profit 6,581 Other nonoperating income, net (392) Interest expense 1,516 Income before income taxes 5,457 Income tax provision 574 Net income 4,883 Net income loss attributable to noncontrolling interests (20) Net income attributable to Medtronic $4,863 Medtronic PLC Consolidated Balance Sheet $ millions April 26, 2019 Current assets Cash and cash equivalents $4,613 Investments 5,728 Accounts receivable, net 6,533 Inventories, net 3,941 Other current assets 2,251 Total current assets 23,066 Property, plant, and equipment, net 4,909 Goodwill 41,957 Other intangible assets, net 21,588 Tax assets 1,595 Other assets 1,065 Total assets $94,180 Current liabilities Current debt obligations $880 Accounts payable 2,051 Accrued compensation 2,298 Accrued income taxes 595 Other accrued expenses 3,071 Total current liabilities 8,895 Long-term debt 25,710 Accrued compensation and retirement benefits 1,734 Accrued income taxes 2,980 Deferred tax liabilities 1,342 Other liabilities 795 Total liabilities 41,456 Shareholders equity Ordinary shares 0 Additional paid-in capital 27,860 Retained earnings 27,584 Accumulated other comprehensive loss (2,847) Total shareholders equity 52,597 Noncontrolling interests 127 Total equity 52,724 Total liabilities and equity $94,180 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 $31,451 $32,085 $33,002 CAPEX 1,121 1,134 Depreciation expense 862 895 Property, plant, and equipment, gross 10,772 10,920 Property, plant, and equipment, net Answer 5,779 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 $1,575 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 5,779 million