P$2-5($Algo$)$ Recording Transactions, Preparing Journal Entries, Posting to T$-$Accounts, Preparing the Balance Sheet, and Evaluating the Current Ratlo LO$2-2,2-4,2-5$

$[$The following information applies to the questions displayed below.$]$

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$).$

Assume that the following transactions $($in millions$)$ occurred during the next fiscal year $($ending on September $26,2020)$:

a$.$ Borrowed $$18,289$ from banks due in two years.

b$.$ Purchased additional investments for $$23,200$ cash; one$-$fifth were long term and the rest were short term.

c$.$ Purchased property, plant, and equipment; paid $$9,594$ in cash and signed a short$-$term note for $$1,433.$

d$.$ Issued additional shares of common stock for $$1,492$ in cash; total par value was $$1$ and the rest was in excess of par value.

e$.$ Sold short$-$term investments costing $$19,030$ for $$19,030$ cash.

f$.$ Declared $$11,148$ in dividends to be paid at the beginning of the next fiscal year.

P$2-5$ Part $4$

Required:

$4.$ Prepare a classified balance sheet for Orange at September $26,2020,$ based on these transactions.

Note: Enter your answers in millions.

ORANGE INCORPORATED

Balance Sheet

$($in millions$)$