V. THE BALANCE SHEET Locate the company's balance sheet. Balance sheet date: The accounting equation is Assets Liabilities + Stockholders' Equity. Replacing the words in the accounting equation with dollar amounts, give the company's accounting equation at the end of the current and prior years. Assets = Liabilities + Equity Assets Liabilities + Equity Year 1 odo Year 2 2018 May 31, 2018 May 31, 2017 $ 4,249 996 3,498 5,261 1,130 15,134 4,454 $3,808 2,371 3,677 5,055 1,150 16,061 3,989 283 139 2,787 23,259 285 154 2,509 22,536 6 Consolidated Balance Sheets - USD ($) $ in Millions Current assets: Cash and equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Identifiable intangible assets, net Goodwill Deferred income taxes and other assets TOTAL ASSETS Current liabilities: Current portion of long-term debt Notes payable Accounts payable Accrued liabilities Income taxes payable Total current liabilities Long-term debt Deferred income taxes and other liabilities Commitments and contingencies (Note 15) Redeemable preferred stock Shareholders' equity: Capital in excess of stated value Accumulated other comprehensive loss Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Class A Convertible Common Stock Shareholders' equity: Common stock at stated value Class B Common Stock Shareholders' equity: Common stock at stated value 336 2,279 3,269 150 6,040 3,468 3,216 325 2,048 3,011 84 5,474 3,471 1,907 0 0 6,384 (92) 3,517 9,812 22,536 5,710 (213) 6,907 12,407 23,259 2017 May 31, 2017 May 31, 2016 $ 3,808 2.371 3,677 5,055 1,150 16,061 3,989 283 139 2,787 23,259 $3,138 2.319 3,241 4,838 1,489 15,025 3,520 281 131 2,422 21,379 505 Consolidated Balance Sheets - USD (S) S in Millions Current assets: Cash and equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Identifiable intangible assets, net 1 Goodwill Deferred income taxes and other assets TOTAL ASSETS Current liabilities: Current portion of long-term debt Notes payable Accounts payable Accrued liabilities Income taxes payable Total current liabilities Long-term debt Deferred income taxes and other liabilities Commitments and contingencies Redeemable preferred stock Shareholders' equity: Capital in excess of stated value Accumulated other comprehensive (loss) income Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Class A Convertible Common Stock Shareholders' equity: Common stock at stated value Class B Common Stock Shareholders' equity: Common stock at stated value 6 44 3251 2,048 2,191 3,011 3,037 84 5,474 5,358 3,471 1,993 1,9071 ,770 0 0 8,638 (213) 3,979 12,407 23,259 7,786 318 4,151 12,258 21,379