Required information P2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing the Balance Sheet, and Evaluating the Current Ratio LO2-2, 2-4, 2-5 [The following information applies to the questions displayed below] Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, perso computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories $14,034 11,385 17,693 2,135 Other current assets 24,152 Total current assets 69,399 Long-term investments 131,812 Property, plant, and equipment, net 20,886 Other noncurrent assets 12,684 Total assets $234,781 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $30,582 Accrued expenses 18,691 Unearned revenue Short-term debt 8,605 6,389 Long-term debt Total current liabilities Other noncurrent liabilities Total liabilities Stockholders' equity: 64,267 29,363 28,214 121,844 Common stock ($0.00001 par value). Additional paid-in capital 1 25,412