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1 Jan 2019
Consolidated Balance SheetsUSD ($) in Millions June 30, 2015 June 30,2014 Current Assets Cash and Cash Equivelents $6,845 $8,558 Available-for-SaleSecurities 4,767 2,128 Accounts Receivable 4,861 6,386 INVENTORIES Materials and Suppliers 1,392 1,742 Work in Progress 550 684 Finished Goods 3,512 4,333 Total Inventories 5,454 6,759 Deferred Income Taxes 1,356 1,092 Prepaid Expenses and OtherCurrent Assets 2,853 3,845 Assets Held for Sale 3,510 2,849 Assets, Current 29,646 31,617 Property, Plant and Equipment,Net 20,268 22,304 Goodwill, Net 47,316 53,704 Trademarks and otherIntangible Assets, Net 26,829 30,843 Other Assets, Noncurrent 5,436 5,798 Assets 129,495 144,266 CURRENT LIABILITIES Accounts Payable 8,257 8,461 Accrued and OtherLiabilities 8,325 8,999 Liabilities Held for Sale 1,187 660 Debt Due Within One Year 12,021 15,606 Liabilities, Current 29,790 33,726 Long-term Debt, ExcludingCurrent Maturities 18,329 19,811 Deferred Tax Liabilities, NetNoncurrent 9,531 10,218 Other Liabilities,Noncurrent 8,795 10,535 Liabilities 66,445 74,290 SHAREHOLDERS' EQUITY Commonstock, stated value $1per share (10,000 shares authorized; shared issued: 2015 - 4,009.2;2014 - 4009.2) 4,009 4,009 Additional Paid-InCapital 63,852 63,911 Reserve for ESOP DebtRetirement (1,320) (1,320) Accumulated OtherComprehensive Income (loss) (12,780) (7,662) Treasury Stock, Value (77,226) (75,805) Retained Earnings 84,807 84,990 Noncontrolling Interest 631 762 TOTAL SHAREHOLDERS'EQUITY 63,050 69,976 TOTAL LIABILITIES ANDSHAREHOLDERS' EQUITY 129,495 144,266 Preferred Class A[Member] SHAREHOLDERS' EQUITY Preferred Stock, Value,Issued 1,077 1,111 Preferred Class B[Member] SHAREHOLDERS' EQUITY Preferred Stock, Value,Issued $0 $0
Using the information above, please answer the followingquestions:
1. Explain why the amount reported for Treasury Stock as of June30, 2015, is subtracted for stockholdersâ equity.
2. The company is authorized to issue 200,000,000 shares ofNon-Voting Class B preferred stock. As of June 30, 2015, what isthe outstanding amount received from the issuance of the Non-VotingClass B preferred stock?
3. The company has issued Convertible Class A preferred stock. Wasany of the Convertible Class A stock converted during the fiscalyear ended June 30, 2015? If so, what was it convertedinto?
| Consolidated Balance SheetsUSD ($) in Millions | June 30, 2015 | June 30,2014 |
| Current Assets | ||
| Cash and Cash Equivelents | $6,845 | $8,558 |
| Available-for-SaleSecurities | 4,767 | 2,128 |
| Accounts Receivable | 4,861 | 6,386 |
| INVENTORIES | ||
| Materials and Suppliers | 1,392 | 1,742 |
| Work in Progress | 550 | 684 |
| Finished Goods | 3,512 | 4,333 |
| Total Inventories | 5,454 | 6,759 |
| Deferred Income Taxes | 1,356 | 1,092 |
| Prepaid Expenses and OtherCurrent Assets | 2,853 | 3,845 |
| Assets Held for Sale | 3,510 | 2,849 |
| Assets, Current | 29,646 | 31,617 |
| Property, Plant and Equipment,Net | 20,268 | 22,304 |
| Goodwill, Net | 47,316 | 53,704 |
| Trademarks and otherIntangible Assets, Net | 26,829 | 30,843 |
| Other Assets, Noncurrent | 5,436 | 5,798 |
| Assets | 129,495 | 144,266 |
| CURRENT LIABILITIES | ||
| Accounts Payable | 8,257 | 8,461 |
| Accrued and OtherLiabilities | 8,325 | 8,999 |
| Liabilities Held for Sale | 1,187 | 660 |
| Debt Due Within One Year | 12,021 | 15,606 |
| Liabilities, Current | 29,790 | 33,726 |
| Long-term Debt, ExcludingCurrent Maturities | 18,329 | 19,811 |
| Deferred Tax Liabilities, NetNoncurrent | 9,531 | 10,218 |
| Other Liabilities,Noncurrent | 8,795 | 10,535 |
| Liabilities | 66,445 | 74,290 |
| SHAREHOLDERS' EQUITY | ||
| Commonstock, stated value $1per share (10,000 shares authorized; shared issued: 2015 - 4,009.2;2014 - 4009.2) | 4,009 | 4,009 |
| Additional Paid-InCapital | 63,852 | 63,911 |
| Reserve for ESOP DebtRetirement | (1,320) | (1,320) |
| Accumulated OtherComprehensive Income (loss) | (12,780) | (7,662) |
| Treasury Stock, Value | (77,226) | (75,805) |
| Retained Earnings | 84,807 | 84,990 |
| Noncontrolling Interest | 631 | 762 |
| TOTAL SHAREHOLDERS'EQUITY | 63,050 | 69,976 |
| TOTAL LIABILITIES ANDSHAREHOLDERS' EQUITY | 129,495 | 144,266 |
| Preferred Class A[Member] | ||
| SHAREHOLDERS' EQUITY | ||
| Preferred Stock, Value,Issued | 1,077 | 1,111 |
| Preferred Class B[Member] | ||
| SHAREHOLDERS' EQUITY | ||
| Preferred Stock, Value,Issued | $0 | $0 |
Using the information above, please answer the followingquestions:
1. Explain why the amount reported for Treasury Stock as of June30, 2015, is subtracted for stockholdersâ equity.
2. The company is authorized to issue 200,000,000 shares ofNon-Voting Class B preferred stock. As of June 30, 2015, what isthe outstanding amount received from the issuance of the Non-VotingClass B preferred stock?
3. The company has issued Convertible Class A preferred stock. Wasany of the Convertible Class A stock converted during the fiscalyear ended June 30, 2015? If so, what was it convertedinto?
Elin HesselLv2
2 Jan 2019
