Apple Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables,...
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Accounting
Apple 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 Apple's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).
APPLE INCORPORATED
CONSOLIDATED BALANCE SHEET
September 28, 2019
(dollars in millions)
ASSETS
Current assets:
Cash
$ 48,844
Short-term investments
51,713
Accounts receivable
22,926
Inventories
4,106
Other current assets
35,230
Total current assets
162,819
Long-term investments
105,341
Property, plant, and equipment, net
37,378
Other noncurrent assets
32,978
Total assets
$ 338,516
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable
$ 46,236
Accrued expenses
43,700
Unearned revenue
5,522
Short-term debt
10,260
Total current liabilities
105,718
Long-term debt
91,807
Other noncurrent liabilities
50,503
Total liabilities
248,028
Stockholders’ equity:
Common stock ($0.00001 par value)
1
Additional paid-in capital
45,173
Retained earnings
45,314
Total stockholders’ equity
90,488
Total liabilities and shareholders' equity
$ 338,516
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):
1. Borrowed $18,266 from banks due in two years.
2. Purchased additional investments for $21,000 cash; one-fifth were long term and the rest were short term.
3. Purchased property, plant, and equipment; paid $9,571 in cash and signed a short-term note for $1,410.
4. Issued additional shares of common stock for $1,469 in cash; total par value was $1 and the rest was in excess of par value.
5. Sold short-term investments costing $18,810 for $18,810 cash.
6. Declared $11,126 in dividends to be paid at the beginning of the next fiscal year.
Prepare a balance sheet
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