Refer to the financial statements of Apple in Appendix A to answer the following.
1. What percent of the original cost of Apple's property and equipment remains to be depreciated as of September 28, 2013 and September 29, 2012? Assume these assets have no salvage value.
2. Over what length(s) of time is Apple depreciating its major categories of property and equipment?
3. What is the change in total property, plant, and equipment (before accumulated depreciation) for the year ended September 28, 2013? What is the amount of cash provided (used) by investing activities for property and equipment for the year ended September 28, 2013? What is one possible explanation for the difference between these two amounts?
4. Compute its total asset turnover for the year ended September 28, 2013, and the year ended September 29.2012. Assume total assets at September 24, 2011, are $116,371 ($ millions).
5. Access Apple's financial statements for fiscal years ending after September 28, 2013, at its website (Apple.com) or the SEC's EDGAR database (www.SEC.gov) Recomputed Apple's total asset turn-over for the additional years' data you collect. Comment on any differences relative to the turnover computed in part 4.