Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and...

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Orange 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 Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets $14,024 11,377 17,681 2,134 24,141 69,357 Long-term investments 131,732 Property, plant, and equipment, net 20,873 Other noncurrent assets 12,676 Total assets $234,638 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $30,563 Accrued expenses 18,679 8,599. 6,385 64,226 29,344 28,196 121,766 Unearned revenue Short-term debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity 1 25,212 87,659 112,872 $234,638 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,299 from banks due in two years. b. Purchased additional investments for $24,100 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,605 in cash and signed a short-term note for $1,443. d. Issued additional shares of common stock for $1,503 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,040 for $19,040 cash. f. Declared $11.158 in dividends to be paid at the beginning of the next fiscal year. Required: 5. Compute Orange's current ratio on September 26, 2020. Note: Round your answer to 2 decimal places. Orange 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 Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). ORANGE INCORPORATED CONSOLIDATED BALANCE SHEET September 28, 2019 (dollars in millions) ASSETS Current assets: Cash Short-term investments Accounts receivable Inventories Other current assets Total current assets $14,024 11,377 17,681 2,134 24,141 69,357 Long-term investments 131,732 Property, plant, and equipment, net 20,873 Other noncurrent assets 12,676 Total assets $234,638 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $30,563 Accrued expenses 18,679 8,599. 6,385 64,226 29,344 28,196 121,766 Unearned revenue Short-term debt Total current liabilities Long-term debt Other noncurrent liabilities Total liabilities Stockholders' equity: Common stock ($0.00001 par value) Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities and shareholders' equity 1 25,212 87,659 112,872 $234,638 Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): a. Borrowed $18,299 from banks due in two years. b. Purchased additional investments for $24,100 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,605 in cash and signed a short-term note for $1,443. d. Issued additional shares of common stock for $1,503 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,040 for $19,040 cash. f. Declared $11.158 in dividends to be paid at the beginning of the next fiscal year. Required: 5. Compute Orange's current ratio on September 26, 2020. Note: Round your answer to 2 decimal places.

Answer rating: 100% (QA)

Answer To compute Oranges current ratio on September 26 2020 we can use the formula Curr... View the full answer