The financial statements of Apple Inc. for 2018 are presented in Appendix A. The complete annual report, including the notes to the financial statements, is available at the company’s website.

Instructions

Refer to Apple’s financial statements and answer the following questions.

a. What were Apple’s total assets at September 29, 2018? At September 30, 2017?

b. How much cash (and cash equivalents) did Apple have on September 29, 2018?

c. What amount of accounts payable did Apple report on September 29, 2018? On September 30, 2017?

d. What were Apple’s net sales in 2016? In 2017? In 2018?

e. What is the amount of the change in Apple’s net income from 2017 to 2018?