Question
Starbeans is a coffee companya big coffee company. During a 10-year period, the number of Starbeans locations in China grew from 24 to over 1,000.
Starbeans is a coffee companya big coffee company. During a 10-year period, the number of Starbeans locations in China grew from 24 to over 1,000. The following is adapted from Starbeanss annual report for the year ended October 2, 2019, and dollars are reported in millions.
| |||
Accounts Payable | $ | 5,930 |
|
Accounts Receivable |
| 630 |
|
Cash |
| 3,260 |
|
Common Stock |
| 490 |
|
Equipment |
| 4,900 |
|
Intangible Assets |
| 3,550 |
|
Inventory |
| 1,810 |
|
Notes Payable (long-term) |
| 2,360 |
|
Notes Payable (short-term) |
| 1,970 |
|
Prepaid Rent |
| 640 |
|
Retained Earnings |
| 4,840 |
|
Short-Term Investments |
| 800 |
|
Assume that the following events occurred in the following quarter, which ended December 31, 2019. Dollars are in millions.
- Paid $1,700 cash for additional intangible assets.
- Issued additional shares of common stock for $11,400 in cash.
- Purchased equipment; paid $3,300 in cash and signed additional long-term loans for $10,300.
- Paid $940 cash for accounts payable owed at October 2.
- Conducted negotiations to purchase a coffee farm, which is expected to cost $9,300.
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