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).
STARFRUIT INC.
CONSOLIDATED BALANCE SHEET
September 27, 2014
(dollars in millions)
ASSETS
Current assets:
Cash $ 13,994
Short-term investments
11,353
Accounts receivable
17,644
Inventories 2,130
Other current assets
24,096
Total current assets
69,217
Long-term investments
131,466
Property, plant, and equipment, net 20,831
Other noncurrent assets
12,650
Total assets $ 234,164
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable $ 30,501
Accrued expenses
18,641
Unearned revenue
8,581
Short-term notes payable
6,372
Total current liabilities
64,095
Long-term debt
29,284
Other noncurrent liabilities
28,139
Total liabilities 121,518
Stockholders’ equity:
Common stock ($0.00001 per value) 1
Additional paid-in capital
24,912
Retained earnings
87,733
Total stockholders’ equity
112,646
Total liabilities and shareholders' equity $ 234,164
Assume that the following transactions (in millions)
occurred during the next fiscal year (ending on September 26, 2015):
Borrowed $18,293 from banks due in two years.
Purchased additional investments for $23,600 cash; one-fifth
were long term and the rest were short term.
Purchased property, plant, and equipment; paid $9,600 in
cash and signed a short-term note for $1,438.
Issued additional shares of common stock for $1,498 in cash;
total par value was $1 and the rest was in excess of par value.
Sold short-term investments costing $19,035 for $19,035
cash.
Declared $11,154 in dividends to be paid at the beginning of
the next fiscal year.
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