Key financial figures for Apple's fiscal year ended September 29, 2012, follow.
Key Figure .......................In Millions
Liabilities 1 Equity . .... . . . . . . . $176,064
Net income . . . . . . . . . ......... . . . . 41,733
Revenues . . . . . . . . . . . . . . . ....... 156,508
Required
1. What is the total amount of assets invested in Apple?
2. What is Apple's return on assets for 2012? Its assets at September 24, 2011, equal $116,371 (in millions).
3. How much are total expenses for Apple for the year ended September 29, 2012?
4. Does Apple's return on assets for 2012 seem satisfactory if competitors average a 10% return?
5. Access Apple's financial statements (Form 10-K) for years ending after September 29, 2012, from its Website (Apple.com) or from the SEC Website (www.sec.gov) and compute its return on assets for those years. Compare the September 29, 2012, year-end return on assets to any subsequent years' returns you are able to compute, and interpret the results.