Required information [The following information applies to the questions displayed below.] Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal 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 $13,994 11,353) 17,644 Inventories 2,130 Other current assets 24,096 Total current assets. 69,217 Long-term investments. 131,466 Property, plant, and equipment, net 20,831 Other noncurrent assets 12,650 Total assets $234,164 LIABILITIES AND STOCKHOLDERS EQUITY Current Liabilities: Accounts payable $30,501 Accrued expenses 18,641 Unearned revenue Short-term debt 8,581 6,372 Total current liabilities Long-term debt 64,095 29,284 Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) 28,139 121,518 Accounts payable Accrued expenses Unearned revenue Short-term debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $30,501 18,641 8,581 6,372 64,095 29,284 28,139 121,518 1 24,912 87,733 112,646 $234,164 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on eptember 26, 2020): a. Borrowed $18,293 from banks due in two years. b. Purchased additional investments for $23,600 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,600 in cash and signed a short-term note for $1,438. d. Issued additional shares of common stock for $1,498 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,035 for $19,035 cash. f. Declared $11,154 in dividends to be paid at the beginning of the next fiscal year. Required: 2. Post each transaction to the appropriate T-accounts. Note: Enter your answers in millions. Debit Beginning Balance 13,994 Ending Balance 13,994 Beginning Balance Cash Accounts Receivable Debit 17,644 Ending Balance 17,644 Other Current Assets Debit Beginning Balance 24,006 Credit Beginning Balance Debit Short-term Investments 11,353 Ending Balance 11,353 + Credit Inventories Credit Credit Debit Beginning Balance 2,130 Ending Balance 2,130 Long-term Investments Credit Debit Credit Beginning Balance 131,466 Other Current Assets Debit Beginning Balance 24,096 Ending Balance 24,096 Debit Beginning Balance Ending Balance Beginning Balance Long-term Investments Credit Debit Beginning Balance 131,466 Property, Plant, and Equipment 20,831 20.831 Credit Ending Balance 131,466 Other Noncurrent Assets Credit Debit Credit Beginning Balance 12,650 Ending Balance 12,650 Accounts Payable Accrued Expenses Debit Credit Debit Credit 30,501 Beginning Balance 18,641 Ending Balance 30,501 Ending Balance 18,641 Debit Beginning Balance Ending Balance Unearned Revenue Short-term Debt Credit Debit Credit Beginning 8,581 6,372 Balance 8.581 Ending Balance Dividends Payable Debit Credit Debit Beginning Balance Beginning Balance Ending Balance Debit Beginning Balance 6,372 Long-term Debt Credit 29,284 Ending Balance 29,284 Other Noncurrent Liabilities Common Stock Credit Debit 28,139 Beginning Balance Credit 1 Balance Ending Balance Other Noncurrent Liabilities Debit Beginning Balance Ending Balance Debit Beginning Balance Credit 28,139 28,139 Additional Paid-in Capital Credit 24,912 Balance Ending Balance 29,284 Beginning Balance Debit Common Stock + Ending Balance Beginning Balance 1 Credit Retained Earnings Debit Credit 87,733 Ending Balance 24,912 Ending Balance 87,733