1. What is the company's total assets? 2. What is the company's total liabilities? 3. What is the company's total stockholders' equity? 4. What is the company's total current assets? 5. What is the company's total property, plant, and equipment (net)? 6. What is the company's total non-current assets? 7. What is the company's total current liabilities? 8. What is the company's total long-term liabilities? 9. What is the company's total contributed capital? 10. What is the company's largest current asset? What is the amount of cash dividends paid on common stock? (enter as a positive number) What is the company's ending Retained Earnings for the most recent year presented? What is the company's beginning Retained Earnings for the most recent year presented? What is the company's total revenues? 11. 12. 13. 14. 15. 16. What is the company's total operating income? What is the company's interest expense? (enter as a positive number) What is the company's pretax income? What is the company's income tax expense? 17. 18. 19. What is the company's net income? 20. What is the company's gross profit? Question # 3 6 8 9 11 12 13 14 16 17 18 20 Apple (AAPL) Additional Tips Total stockholders' equity = Total shareholders' equity Total non-current assets = Total assets - Total current assets Long-term liabilities = Total liabilities - Total current liabilities Contributed capital = Common Stock Find cash dividends paid on statement of cash flows (financing activities section) Ending Retained Earnings is dated 9/29/18 (see statements of shareholders' equity) Beginning Retained Earnings is dated 9/30/17 (see statements of shareholders' equity) Total revenues are net sales (see consolidated statements of income) Assume Interest Expense is zero Pre-tax income is Income before provision for income taxes Income tax expense is Provision for income taxes Gross profit is Gross Margin Net sales Cost of sales Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income Earnings per share: Basic Diluted Shares used in computing earnings per share: Basic Diluted September 29, 2018 Apple Inc. 1 2018 Form 10-K 138 $ $ 265,595 $ 163,756 101,839 14,236 16,705 30,941 Years ended September 30, 2017 70,898 2,005 72,903 13,372 59,531 $ $ 12.01 11.91 $ 4,955,377 5,000,109 See accompanying Notes to Consolidated Financial Statements. 229,234 $ 141,048 88,186 11,581 15,261 26,842 61,344 2,745 September 24, 2016 215,639 131,376 84,263 64,089 15,738 48,351 $ 9.27 $ 9.21 $ 5,217,242 5,251,692 10,045 14,194 24,239 60,024 1,348 61,372 15,685 45,687 8.35 8.31 5,470,820 5,500,281 Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Deferred revenue Term debt Other non-current liabilities LIABILITIES AND SHAREHOLDERS' EQUITY: ASSETS: Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,754,986 and 5,126,201 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity September 29, 2018 $ $ $ See accompanying Notes to Consolidated Financial Statements. Apple Inc. I 2018 Form 10-K 140 25,913 $ 40,388 23,186 3,956 25,809 12,087 131,339 170,799 41,304 22,283 234,386 365,725 $ 55,888 $ 32,687 7,543 11,964 8,784 116,866 2,797 93,735 45,180 September 30, 2017 141,712 258,578 40,201 70,400 (3,454) 107,147 365,725 $ 20,289 53,892 17,874 4,855 17,799 13,936 128,645 194,714 33,783 18,177 246,674 375,319 44,242 30,551 7,548 11,977 6,496 100,814 2,836 97,207 40,415 140,458 241,272 35,867 98,330 (150) 134,047 375,319 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except number of shares which are reflected in thousands and per share amounts) Balances as of September 26, 2015 Net income Other comprehensive income/(loss) Dividends and dividend equivalents declared at $2.18 per share or RSU Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 24, 2016 Net income Other comprehensive income/(loss) Dividends and dividend equivalents declared at $2.40 per share RSU Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 30, 2017 Cumulative effect of change in accounting principle Net income Other comprehensive income/(loss) Dividends and dividend equivalents declared at $2.72 per share or RSU Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes Balances as of September 29, 2018 Common Stock and Additional Paid-In Capital Shares Amount 5,578,753 S 27,416 $ (279,609) 37,022 5,336,166 (246,496) 36,531 5,126,201 (405,549) 4,262 (806) 379 31,251 T II 4,909 (913) 620 35,867 LIL 5,443 Retained Earnings Apple Inc. I 2018 Form 10-K 141 92,284 $ 45,687 (12,188) (29,000) (419) 96,364 48,351 (12,803) (33,001) (581) 98,330 278 59,531 Accumulated Other Comprehensive Income/(Loss) (13,735) (73,056) 34,334 (1,109) (948) 4,754,986 S 40,201 $ 70,400 $ See accompanying Notes to Consolidated Financial Statements. (345) $ 979 634 (784) (150) (278) Total Shareholders' Equity (3,026) (3,454) $ 119,355 45,687 979 (12,188) (29,000) 4,262 (1,225) 379 128,249 48,351 (784) (12,803) (33,001) 4,909 (1,494) 620 134,047 59,531 (3,026) (13,735) (73,056) 5,443 (2,057) 107,147 Cash and cash equivalents, beginning of the year Operating activities: Net income Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense/(benefit) Other Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments for acquisition of property, plant and equipment Payments made in connection with business acquisitions, net Purchases of non-marketable securities Proceeds from non-marketable securities Other Cash generated by/(used in) investing activities Financing activities: Proceeds from issuance of common stock Payments for taxes related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Cash used in financing activities Increase/(Decrease) in cash and cash equivalents Cash and cash equivalents, end of the year Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest September 29, 2018 $ $ 20,289 $ 59,531 10,903 5,340 (32,590) (444) (5,322) 828 (8,010) (423) 9,175 (44) 38,490 77,434 (71,356) 55,881 47,838 (13,313) (721) (1,871) 353 (745) 16,066 Years ended September 30, September 24, 2017 2016 21,120 669 (2,527) (13,712) (72,738) 6,969 (6,500) (37) (87,876) 5,624 25,913 $ 10,417 $ 3,022 $ See accompanying Notes to Consolidated Financial Statements. Apple Inc. 1 2018 Form 10-K 142 20,484 $ 48,351 10,157 4,840 5,966 (166) (2,093) (2,723) (4,254) (5,318) 8,966 (626) 1,125 64,225 (159,486) 31,775 94,564 (12,451) (329) (521) 126 (124) (46,446) 555 (1,874) (12,769) (32,900) 28,662 (3,500) 3,852 (17,974) (195) 20,289 $ 11,591 $ 2,092 $ 45,687 10,505 4,210 4,938 486 527 217 (51) 1,055 2,117 (1,554) (1,906) 66,231 (142,428) 21,258 90,536 (12,734) (297) (1,388) (924) (45,977) 495 (1,570) (12,150) (29,722) 24,954 (2,500) (397) (20,890) (636) 20,484 10,444 1,316