Refine Assumptions for PPE Forecast Provided below is FY2016 information for Medtronic PLC Medtronic plc Censelidated Statement of Inceme s millions) Apr. 29, 2016 828,157 Corts and expenses Cos of products sold Research and development expernes Selling, general and adminisr ative expense Special chargesa net Restructuring charge, nel Certain Higation charges, net 2.224 Amortization of intangble ansets Other expense, net Operaoing prot Inderest expense, net Income trom operations before income taxes 4,625 Provision for P income tases Medtronic pl Apr. 2, 2016 Apr 24 2015 Current assets Cash and cash equealems $2.710$4477 9758 14 637 562 5,112 3,4733.463 Accounts receivable 677 1,235| Prepaid experses and ocher curent assets Total ourrent assers Property plant, and equipmens, net 23434 30678 4675 4533 41 500 40,530 Other intangble assets, ret 26.89928101 Currem kabiles Short-4erm borrowings Accounts paystle Accrued compensation $827$2.258 1,712141 Delerred tax labdiies Other acoued espenses fotal current labaties Long term debt Long term accrued compersation 2464 218 22473.752 Medtronic plc Consolidated Balance Sheets Apr. 24, 2015 2,476 4,700 1,819 53,289 Apr. 29, 2016 2,903 3,729 1,916 47.553 (s millions) Long-term accrued income taxes Long-term deferred tax liabilities Other long-term liabilities Total liabilities Shareholders' equity Ordinary shares Retained earnings 54,248 (1,184) 53,064 $99,450 $106,353 53,765 (1,868) 51,897 ehensive (loss) Total shareholders equity Total liabilities and shareholders' equity a. Use the financial statements along with the additional information below to forecast property, plant and equipment, net for FY2017. $991 million CAPEX in FY2016 Depreciation expense in FY2016 835 million Forecasted FY2017 net sales 34,510 million Round to the nearest million. Forecasted PPE, net for FY2017 million b. Suppose the company discloses in a press release that accompanies its year-end SEC filing that anticipated CAPEX for FY2017 is $1.5 billion. Use the guidance to refine your forecast of property, plant and equipment, net for FY2017. million Check