$1.$ Get the most recent $10$K for Apple from their website $($investor link at bottom of their initial web page$)$ or Mergent. Financial data can also be retrieved from Mergent or another financial website. You just need the last four years of balance sheets and three years of income statement.

$2.$ Compute the free cash flow using methods covered in the book and class. Put together a spreadsheet with the NOPAT, operating long term assets $($and change$),$ operating working capital $($and change$)$ as a base and show their annual free cash flow and return on invested capital for three years.

$3.$ Compute the Dupont ratios $$ ROE, ROA, Asset Turnover, Profit Margin, and Equity Leverage for the last three years.

Report both $2$ and $3$ with your calculations in Excel spreadsheet

Answer the following $10$ questions from your spreadsheet and their most recent $10$K $($note that their fiscal year ends at the end of September$)$:

From spreadsheet:

A$)$ What was the ROE for $2023$ using beginning of year equity?

B$)$ What was their $2022$ asset turnover using beginning of year assets?

C$)$ What is their equity multiplier for year end $2021?$

D$)$ In January Apple has an equity market value of $$2\mathrm{.}8$ billion. What multiple is that of their equity on the balance sheet $($book equity$)?$

E$)$ What is the net of current assets$/$current liabilities as of year end $2022?$

From $10$K

F$)$ How many pages of risk factors do they have? $($Give page numbers$)$

G$)$ What companies do they have the biggest legal issues with? $($give page number$)$

H$)$ What region do they have the highest net sales with?

I$)$ What is their effective tax rate for $2023?$

J$)$ What was the amount of their share buybacks in fiscal year $2023?$