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! Required information [The following information applies to the questions displayed below.] Starbucks is a coffee company-a big coffee company. During a 10-year period,
! Required information [The following information applies to the questions displayed below.] Starbucks is a coffee company-a big coffee company. During a 10-year period, the number of Starbucks locations in China grew from 24 to over 1,000. The following is adapted from Starbucks's annual report for the year ended October 2, 2016, and dollars are reported in millions. Accounts Payable Accounts Receivable $5,150 600 Cash 2,960 Common Stock 430 Equipment 4,180 Intangible Assets 3,250 Inventory 1,510 Notes Payable (long-term) 2,060 Notes Payable (short- 1,670 term) Prepaid Rent Retained Earnings Short-Term Investments 610 4,540 740 Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1,400 cash for additional intangible assets. b. Issued additional shares of common stock for $10,800 in cash. c. Purchased equipment; paid $4,800 in cash and signed additional long-term loans for $9,700. d. Paid $880 cash for accounts payable owed at October 2. e. Conducted negotiations to purchase a coffee farm, which is expected to cost $8,700.
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