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Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2015) a. Borrowed $18,296 from banks due in two years b. Purchased additional investments for $23,800 cash, one-fifth were long term and the rest were short term. C. Purchased property, plant, and equipment, paid $9,603 in cash and signed a short-term note for $1,440 d. Issued additional shares of common stock for $1,500 in cash, total par value wos $1 and the rest was in excess of par value e. Sold short-term investments costing $19,038 for $19,038 cash f. Declared $11,156 in dividends to be paid at the beginning of the next fiscal year of business transactions on the balance sheet using two basic tools: Journal entries and 7. 100 points 4. Compute Starfruit's current ratio for the year ending on September 26, 2015. (Round your answer to 2 decimal places.) References eBook & Resources Financial Statements Leaming Objective: 02-02 Idenlity what Leaming objective 02-05 Prepare a ial a business transaction and e compony uning the cuent common balance sheet account titles used in business Learning Objective: 02-04 Detemine the impact of business transactions on the balance sheet Difficulty: 3 Hard using two basic tools Joumal entries and

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