Forecast Income Statement and Balance Sheet
Following are the income statement and balance sheet for Medtronic PLC.
Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places.
Medtronic PLC
Consolidated Statement of Income
$ millions, For Fiscal Year Ended
April 26, 2019
Net sales
$30,557
Medtronic PLC
Consolidated Balance Sheet
$ millions
April 26, 2019
Current assets
Cash and cash equivalents
$4,393
Investments
5,455
Accounts receivable, net
6,222
Inventories, net
3,753
Other current assets
900
Total current assets
20,723
Property, plant, and equipment, net
4,675
Goodwill
39,959
Other intangible assets, net
20,560
Tax assets
638
Other assets
1,014
Total assets
$87,569
Current liabilities
Current debt obligations
$838
Accounts payable
1,953
Accrued compensation
2,189
Accrued income taxes
567
Other accrued expenses
2,925
Total current liabilities
8,472
Long-term debt
24,486
Accrued compensation and retirement benefits
1,651
Accrued income taxes
2,838
Deferred tax liabilities
1,278
Other liabilities
318
Total liabilities
39,043
Shareholders’ equity
Ordinary shares
-  
Additional paid-in capital
24,846
Retained earnings
26,270
Accumulated other comprehensive loss
(2,711)
Total shareholders’ equity
48,405
Noncontrolling interests
121
Total equity
48,526
Total liabilities and equity
$87,569
Medtronic PLC
Consolidated Balance Sheet
$ millions
2020
Current assets
Cash and cash equivalents
Investments
Accounts receivable, net
Inventories, net
Other current assets
Total current assets
Property, plant, and equipment, net
Goodwill
Other intangible assets, net
Tax assets
Other assets
Total assets
Current liabilities
Current debt obligations
Accounts payable
Accrued compensation
Accrued income taxes
Other accrued expenses
Total current liabilities
Long-term debt
Accrued compensation and retirement benefits
Accrued income taxes
Deferred tax liabilities
Other liabilities
Total liabilities
Shareholders’ equity
Ordinary shares
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Total shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity