1. Calculate the inventory turnover, payout ratio, profit margin, return on assets and debt to total assets of the Apple company in the years from 2017 to 2020. Apple data Balance sheet Assets 2021 2020 2019 2018 2017 62.639 90,979 100,580 66,301 74,181 26,913 19,980 28,124 19,658 14,516 35,726 70,999 72,456 46,643 59,665 -31.15% -9.55% 51.70% -10.62% Fiscal year is October September. All values USD Millions. Cash & Short Term Investments Cash Only Short-Term Investments Cash & Short Term Investments Growth Cash & ST Investments/Total Assets Total Accounts Receivable Accounts Receivables, Net Accounts Receivables, Gross Bad Debt/Doubtful Accounts 17.85% 28.09% 29.71% 18.13% 19.76% 51,506 37,445 45,804 48,995 35,673 26,278 16,120 22.926 23,186 17,874 26,278 16,120 22,926 23,186 17,932 (58) Other Receivables 25.228 21,325 22,878 25,809 17,799 Accounts Receivable Growth 37.55% -18.25% -6.51% 37.34% Accounts Receivable Turnover 7.10 7.32 5.68 5.43 6.41 Inventories 6,580 4,061 4,106 3,956 4,855 Finished Goods 6,580 4,061 4,106 3,956 4,855 14,111 11,228 12,329 12,087 13,936 Other Current Assets Miscellaneous Current Assets Total Current Assets 14,111 11,228 12,329 12,087 13,936 134,836 143,713 162,819 131,339 128,645 49,527 45,336 37,378 41,304 33,783 119,810 112,096 95,957 90,403 75,076 20.041 17,952 17,085 16,216 13,587 Net Property, Plant & Equipment Property, Plant & Equipment - Gross Buildings Machinery & Equipment Other Property, Plant & Equipment Accumulated Depreciation Total Investments and Advances 78,659 75,291 69,797 65,982 54,210 11,023 10,283 9,075 8,205 7,279 70,283 66,760 58,579 49,099 41,293 127,877 102,624 106,698 170,799 194,714 Other Long-Term Investments 127,877 102,624 106,698 170,799 194,714 8,015 Intangible Assets Net Goodwill 5,717 Net Other Intangibles 2,298 Other Assets 38,762 32.215 31,621 22,283 10,162 Tangible Other Assets 38,762 32,215 31,621 22,283 10,162 Total Assets 351,002 323,888 338,516 365,725 375,319 Assets - Total - Growth 8.37% -4.32% -7.44% -2.56% Asset Turnover 1.08 Return On Average Assets 28.06% Liabilities & Shareholders' Equity All values USD Millions ST Debt & Current Portion LT Debt 2021 2020 2019 2018 2017 17.141 15,229 16.240 20,748 18,473 7,449 6,432 5,980 11,964 11,977 Short Term Debt Current Portion of Long Term Debt 9,692 8,797 10,260 8,784 6,496 Accounts Payable 54,763 42,296 46,236 55,888 49,049 29.48% -8.52% -17.27% 13.94% Accounts Payable Growth Other Current Liabilities 53,577 47,867 43,242 40,230 33,292 53,577 47,867 43,242 40,230 33,292 Miscellaneous Current Liabilities Total Current Liabilities Current Ratio 125,481 105,392 105,718 116,866 100,814 1.07 1.36 1.54 1.12 1.28 Quick Ratio 1.02 1.33 1.50 1.09 1.23 Cash Ratio 0.50 0.86 0.95 0.57 0.74 Long-Term Debt 119,381 107,049 91,807 93,735 97,207 109,106 98,667 91,807 93,735 97,207 109,106 98,667 91,807 93,735 97,207 Long-Term Debt excl. Capitalized Leases Non-Convertible Debt Capitalized Lease Obligations Provision for Risks & Charges Deferred Taxes 769 637 24,689 28,170 29,545 33,589 16,919 11,520 39,911 16,919 11,520 39911 Deferred Taxes - Credit Other Liabilities 18,361 17,938 4,039 2,868 3,340 18,361 17,938 4,039 71 504 Other Liabilities (excl. Deferred Income) Deferred Income 2,797 2,836 287,912 258,549 248,028 258,578 241,272 Total Liabilities Total Liabilities/Total Assets 82.03% 79.83% 73.27% 70.70% 64.28% Common Equity (Total) 63,090 65,339 90,488 107147 134,047 57,365 50,779 45,174 40,201 35,867 5,562 14,966 45,898 70,400 98,330 (1.375) (1,463) (1,055) (354) 1,846 707 (3,209) 328 Common Stock Par/Carry Value Retained Earnings Cumulative Translation Adjustment/Unrealized For. Exch. Gain Unrealized Gain/Loss Marketable Securities Other Appropriated Reserves Common Equity/Total Assets Total Shareholders' Equity Total Shareholders' Equity/Total Assets 163 (877) 172 810 (124) 17.97% 20.17% 26.73% 29.30% 35.72% 63,090 65,339 90,488 107,147 134,047 17.97% 20.17% 26.73% 29.30% 35.72% Total Equity 63,090 65,339 90,488 107,147 134,047 Cash flow 2021 2020 2019 2018 2017 Operating Activities Fiscal year is October September. All values USD Millions Net Income before Extraordinaries Net Income Growth 94,680 57,411 55 256 59,531 48,351 64.92% 3.90% -7.18% 23.12% Depreciation, Depletion & Amortization 11,284 11,056 12.547 10,903 10,157 Depreciation and Depletion 11,284 11,056 12,547 10,903 (4,774) (215) (340) (32,590) 5,966 (4,774) (215) (340) (32,590) 5,966 Deferred Taxes & Investment Tax Credit Deferred Taxes Other Funds Funds from Operations 7,759 6,732 5,416 4,896 4,674 108,949 74,984 72,879 42,740 69,148 Changes in Working Capital (4,911) 5,690 (3,488) 34,694 (5,550) Receivables (14,028) 8,470 3,176 (13,332) (6,347) Inventories (2,642) (127) (289) 828 (2,723) 12.326 (4,062) (1,923) 9,175 9,618 (567) 1,409 (4,452) 38,023 (6,098) Accounts Payable Other Assets/Liabilities Net Operating Cash Flow Net Operating Cash Flow Growth Net Operating Cash Flow/ Sales 104,038 80,674 69,391 77,434 63,598 28.96% 16.26% -10.39% 21.76% 28.44% 29.43% 26,69% 29.13% 27.82% 2021 2020 2019 2018 2017 (11,085) (7.309) (10,495) (13,313) (12,795) (11,085) (7,309) (10,495) (13,313) (12,451) (344) Investing Activities All values USD Millions Capital Expenditures Capital Expenditures (Fixed Assets) Capital Expenditures (Other Assets) Capital Expenditures Growth Capital Expenditures / Sales Net Assets from Acquisitions Purchase/Sale of Investments Purchase of Investments Sale/Maturity of Investments -51.66% 30.36% 21.17% -4.05% -3.03% -2.67% -4.049 -5.01% -5,60% (33) (1524) (624) (721) (329) (2,819) 5,335 58,093 30,845 (33,147) (109,689) (115,148) (40,631) (73,227) (159,486) 106,870 120,483 98,724 104,072 126,339 Other Uses (608) (791) (1,078) (745) (395) Other Sources 220 (14,545) (4,289) 45,896 16,066 (46,446) Net Investing Cash Flow Net Investing Cash Flow Growth Net Investing Cash Flow/ Sales -239.12% -109.35% 185.67% 134.59% -3.98% -1.56% 17.65% 6.04% -20.32% 2021 2020 2019 2018 2017 | Financing Activities All values USD Millions Cash Dividends Paid - Total Common Dividends (14,467) (14,081) (14,119) (13,712) (12,769) (14,467) (14,081) (14,119) (13,712) (12,769) (84,866) (71,478) (66,116) (72,069) (32,345) Change in Capital Stock Repurchase of Common & Preferred Stk. Sale of Common & Preferred Stock (85,971) (72,358) (66,897) (72.738) (32,900) 1,105 880 781 669 555 Proceeds from Stock Options 1.105 880 781 669 555 Issuance/Reduction of Debt, Net 12,665 2,499 (7,819) 432 29,014 Change in Current Debt 1,022 (963) (5,977) (37) 3,852 11,643 3,462 (1,842) 469 25,162 Change in Long-Term Debt Issuance of Long-Term Debt 20,393 16,091 6,963 6,969 28,662 Reduction in Long-Term Debt (8,750) (12,629) (8,805) (6,500) (3,500) Other Funds (6,685) (3,760) (2.922) (2.527) (1,247) Other Uses (6,685) (3,760) (2.922) (2,527) (1,874) Other Sources 627 (93,353) (86,820) (90,976) (87,876) (17,347) -7.52% 4.57% -3.53% -406.58% -25.52% -31.67% -35.00% -33.06% -7.59% Net Financing Cash Flow Net Financing Cash Flow Growth Net Financing Cash Flow/ Sales Net Change in Cash Free Cash Flow Free Cash Flow Growth Free Cash Flow Yield (3,860) (10,435) 24.311 5,624 (195) 92,953 73,365 58,896 64,121 51,147 26.70% 24.57% -8.15% 25.37% 3.17% Income statement 2021 2020 2019 2018 2017 Fiscal year is October September. All values USD Millions Sales/Revenue 365,817 274,150 259,968 265,809 228,572 Sales Growth 33.44% 5.46% -2.20% 16.29% Cost of Goods Sold (COGS) incl. D&A 212,981 170.143 162.264 163,826 141,702 COGS excluding D&A 201.697 159,087 150,964 154,526 132,302 Depreciation & Amortization Expense 11,284 11,056 11,300 9,300 9,400 11,284 11,056 11,300 9,300 8,200 Depreciation Amortization of Intangibles 1,200 COGS Growth 25.18% 4.86% -0.95% 15.61% 152.836 104,007 97,704 101,983 86,870 Gross Income Gross Income Growth 46.95% 6.45% -4.20% 17.40% Gross Profit Margin 41.78% SG&A Expense 43,887 38,668 34,462 30,941 26,842 Research & Development 21,914 18,752 16,217 14,236 11,581 21,973 19,916 18,245 16,705 15,261 Other SG&A SGA Growth EBIT 13.50% 12.20% 11.38% 15.27% 108,949 65,339 63,242 71,042 60,028 Unusual Expense (465) 60 397 1.110 (585) 1,183 Non Operating Income/Expense Non-Operating Interest Income 2,843 3,763 4,961 5,686 5,201 2,645 2,873 3,576 3,240 2,323 Interest Expense Interest Expense Growth -7.94% -19,66% 10.37% 39,47% 2,645 2,873 3,576 3,240 2,323 Gross Interest Expense Pretax Income 109,207 67,091 65,737 72,903 64,089 Pretax Income Growth 62.77% 2.06% -9.83% 13.75% Pretax Margin 29.85% Income Tax 14,527 9,680 10,481 13,372 15,738 Income Tax - Current Domestic 9,877 6,761 6,859 41,976 8,101 9,424 3,134 3,962 3,986 1,671 Income Tax - Current Foreign Income Tax-Deferred Domestic (7,514) (3,598) (3,006) (33,771) 5,982 2,740 3,383 2,666 1,181 (16) Income Tax-Deferred Foreign Consolidated Net Income 94,680 57,411 55,256 59,531 48,351 Net Income 94,680 57,411 55,256 59,531 48,351 64.92% 3.90% -7.18% 23.12% Net Income Growth Net Margin Net Income After Extraordinaries 25.88% 94,680 57,411 55,256 59,531 48,351 Net Income Available to Common 94,680 57,411 55,256 59,531 48,351 EPS (Basic) 5.61 3.28 2.97 2.98 2.30 EPS (Basic) Growth 71.40% 10.23% -0.20% 29.32% Basic Shares Outstanding 16,701 17,352 18,471 19,822 20,869 EPS (Diluted) 5.61 3.28 2.97 2.98 2.30 EPS (Diluted) Growth 71.40% 10.23% -0.17% 29.32% Diluted Shares Outstanding 16,865 17,528 18,596 20,000 21,007 EBITDA 120,233 76,395 74,542 80,342 69,428 EBITDA Growth 57.38% 2.49% -7.22% 15.72% EBITDA Margin 32.87% EBIT 108,949 65,339 63,242 71,042 60,028