Use Apple Computer Inc.'s balance sheets given here to answer the questions. (LO 5)

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a. What date marks the end of Apple's most recent fiscal year?

b. Did Apple earn a net income or net loss during the year? How can you tell?

c. Did the owners of Apple make any capital contributions during the year (or did Apple get some new owners)?

d. Did Apple buy or sell any property, plant, or equipment during the year? How can you tell?

e. On the last day of the fiscal year, did Apple have any debts? If so, what was the total amount?

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Assets: Cash and cash equivalents Short-term investments Accounts receivable (net) Apple Computer Inc. Condensed Balance Sheets (in millions) At 9/24/05 $3,491 4,770 895 9/25/04 $ 2,969 2,495 774 Inventories 165 101 Other current assets 979 716 Total current assets 10,300 7,055 Property, plant, and equipment (net) 817 707 Goodwill Other assets Total assets $ 11,551 69 365 $ 8,050 80 208 Accrued expenses Total current liabilities Other noncurrent liabilities Liabilities and Shareholders' Equity: Accounts payable $ 1,779 1,705 3,484 601 $ 1,451 1,200 2,651 Total liabilities 4,085 Common stock 3,521 Retained earnings 4,005 Other equity accounts Total shareholders' equity Total liabilities and shareholders' equity (60) 7,466 323 2,974 2,514 2,670 (108) 5,076 $ 11,551 $ 8,050