Starfruit Inc., headquartered in Ridgway, Colorado, designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players and sells a variety of related software and services. The following is Starfruit's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).

Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2015):

Borrowed $18,306 from banks due in two years. Purchased additional investments for $24,800 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment; paid $9,612 in cash and signed a short-term note for $1,451. Issued additional shares of common stock for $1,510 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,047 for $19,047 cash. Declared $11,166 in dividends to be paid at the beginning of the next fiscal year.

1. Create T-accounts for each balance sheet account. Post each transaction to the appropriate T-accounts (Enter your answers in millions.)

2. Prepare a balance sheet from the T-account ending balances for Starfruit at September 26, 2015, based on these transactions. (Enter your answers in millions.)

$ 14,074 11,417 17,743 2,141 24, 220 69,595 132,184 20,944 12,720 $ 235,443 STARFRUIT INC. CONSOLIDATED BALANCE SHEET September 27, 2014 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets Long-term investments Property, plant, and equipment, net Other noncurrent assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Unearned revenue Short-term notes payable Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 30,668 18,743 8,629 6,407 64,447 29,445 28,292 122,184 1 25,612 87,646 113,259 $ 235,443