Question

$ 14,084 11,425 17,755 2,142 24,231 69,637 132,264 20,957 12,728 $ 235,586 MANGO INC. CONSOLIDATED BALANCE SHEET September 30, 2017 (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 ($0.90001 per value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity $ 30,687 18,755 8,635 6,411 64,488 29,464 28,310 122,262 1 25,712 87,611 113,324 $235,586 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 29, 2018): a. Borrowed $18,309 from banks due in two years. b. Purchased additional investments for $25,000 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,615 in cash and signed a short-term note for $1,454. d. Issued additional shares of common stock for $1,513 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,050 for $19,050 cash. f. Declared $11,169 in dividends to be paid at the beginning of the next fiscal year.

Answer 1

ANSWER (4) -REVISED CLASSIFIED BALANCE SHEET

MANGO INC. BALANCE SHEET AT SEPTEMBER 29,2018 (IN MILLIONS) ASSETS AMOUNT AMOUNT CURRENT ASSETS: Cash $ 18,341 short-term investments $ 12,375 Accounts Receivable $ 17,755 Inventories $ 2,142 Other current assets $ 24,231 Total current assets $ 74,844 Non current assets: Long Term Investments Property, plant& equipment Other non current assets $ 1,37,264 $ 32,026 $ 1,69,290 $ 12,728 TOTAL ASSETS $ $ 2,56,862

LIABILITIES and STOCKHOLDER EQUITY Current Liabilities: Accounts Payable Accrued expenses Unearned Revenue short term notes Payable Dividends Payable $ 30,687 $ 18,755 $ 8,635 $ 7,865 $ 11,169 Total current Liabilities $ 77,111 Non current Liabilitiies: Long Term Note Payable Other non current liabilities $ 47,773 $ 28,310$ 76,083 $ Stockholders Equity: Common Stock Additional Paid up Capital Retained Earnings 2 $ 27,224 $ 76,442 $ 1,03,668 TOTAL LIABILITIES & SHAREHOLDERS $ 2,56,862 EQUITY

(5)MANGO'S CURRENT RATIO FOR MANGO AT SEPTEMBER 29,2018

Current Ratio=Total Current Assets / Total Current Liabilities

=74,844 / 77,111

=0.94

Current Ratio=0.94