The stockholders’ equity section of Apple Inc.’s balance sheet is shown in the Consolidated Statement of Financial Position in Appendix A. Instructions for accessing and using the company’s complete annual report, including the notes to its financial statements, are also provided in Appendix A.

Instructions Answer the following questions.

(a) What is the par or stated value per share of Apple’s common stock?

(b) What percentage of Apple’s authorized common stock was issued at September 27, 2014? (Round to the nearest full percent.)

(c) How many shares of common stock were outstanding at September 28, 2013, and at September 27, 2014?

(d) Calculate the payout ratio, earnings per share, and return on common stockholders’

equity for 2014.