4.What amount is owed to the company from customers? (Net)

Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 26, September 28, 2020 2019 September 29, 2018 Net sales: Products Services Total net sales 220,747 $ 53,768 274,515 213,883 $ 46,291 260,174 225,847 39,748 265,595 Cost of sales: Products Services Total cost of sales Gross margin 151,286 18,273 169,559 104,956 144,996 16,786 161,782 98,392 148,164 15,592 163,756 101,839 Operating expenses: Research and development Selling, general and administrative Total operating expenses 18,752 19,916 38,668 16,217 18,245 34,462 14,236 16,705 30,941 Operating income Other income/expense), net Income before provision for income taxes Provision for income taxes Net income 66,288 803 67,091 9,680 57,411 $ 63,930 1,807 65,737 10,481 55,256 $ 70,898 2,005 72,903 13,372 59,531 $ Earnings per share: Basic Diluted $ 3.31 $ 3.28 $ 2.99 $ 2.97 $ 3.00 2.98 $ Shares used in computing earnings per share: Basic Diluted 17,352,119 17,528,214 18,471,336 18,595,651 19,821,510 20,000,435 See accompanying Notes to Consolidated Financial Statements. 29. Award: 12.00 points Current Ratio: (text book pages 559-560 565) 6. Calculate the Current ratio. (SHOW YOUR WORK TO RECEIVE PARTIAL CREDIT. Calculate ratio to three decimal places.) b. Does this ratio appear favorable or unfavorable? Why? 30. Award: 12.00 points Profit Margin Ratio (text book pages 563, 565) Calculate the Profit Margin ratio SHOW YOUR WORK Calculate ratio to three decimal places) b. Does this ratio appear favorable or unfavorable? Why? 31. Award 18.00 points Accounts Receivable Turnover and Days Sales Unicollected textbook pages 561.565) o Colculate the Accounts Receivable Turnover ratio (SHOW YOUR WORK Calculatoratio to three decimal places) Calculate the Days Sales Uncollected ratio (SHOW YOUR WORK Calculate ratio to three decimal places) Does this ratio appear favorable or unfavorable? Why? 32. Award 18.00 points Inventory Tumover and Days Sales in Inventory text book pages 561, 565) a. Calculate the Inventory Turnoverato (SHOW YOUR WORK Calculate ratio to three decimal places) Calculate the Day' Sales In Irwantory rato (SHOW YOUR WORK Calculate tatio to three decimal places) Does this ratio appear favorable or unfavorable? Why? 33. Award 700 points Total Asset Turnover (Hext book pages 561.5658 Calculate the Total Asset Turnover ratio (SHOW YOUR WORK Calculate ratio to three decimal places) 34. Award 8.00 points Debt Ratio textbook pages 562.565) . Calculate the Debt ratio (SHOW YOUR WORK. Calculate ratio to three decimal places) b. What does this ratio tell you about Apple's risk? Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 26, September 28, September 29, 2020 2019 2018 $ Net sales: Products Services Total net sales 220,747 $ 53,768 274,515 213,883 $ 46,291 260,174 225,847 39,748 265,595 Cost of sales: Products Services Total cost of sales Gross margin 151,286 18,273 169,559 104,956 144,996 16,786 161,782 98,392 148,164 15,592 163,756 101,839 Operating expenses: Research and development Selling, general and administrative Total operating expenses 18,752 19,916 38,668 16,217 18,245 34,462 14,236 16.705 30,941 Operating income Other Income/(expense), net Income before provision for income taxes Provision for income taxes Net income 66,288 803 67,091 9,680 57,411 $ 63,930 1,807 65,737 10,481 55,256 $ 70,898 2,005 72,903 13,372 59,531 $ Earings per share: Basic Diluted 3.31 $ 3.28 $ 2.99 $ 2.97 $ 3.00 2.98 $ Shares used in computing earnings per share: Basic 17,352,119 17,528,214 18,471,336 18,595,651 19,821,510 20,000,435 Diluted See accompanying Notes to Consolidated Financial Statements, September 26, 2020 September 28, 2019 ASSETS Current assets: Cash and cash equivalents Marketable securities Accounts receivablo, net Inventories Vendor non-trade receivables Other current assets Total current assets 38,016 S 52,927 16,120 4,061 21,325 11.264 143.713 48,844 51713 22,926 4,106 22,878 12,352 162,819 100,887 36,766 42,522 180,175 323,888 $ 105,341 37,378 32,978 175,697 338,516 Non-current assots: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities 42,295 $ 42,684 6,843 4,996 8,773 105,392 46.236 37.720 5,522 5,980 10.260 105.718 Non-current liabilities: Torm debt Other non-current abilities Total non-current liabilities Total abilities 98.667 54.490 153.157 258,549 91,807 50 503 142,310 248,028 Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized: 16,978,763 and 17,772,945 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive incomo/lots) Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. 50,779 14.966 (406) 65,339 323,888 $ 45,174 45,898 (584) 90.488 338,516 Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 26, September 28, 2020 2019 September 29, 2018 Net sales: Products Services Total net sales 220,747 $ 53,768 274,515 213,883 $ 46,291 260,174 225,847 39,748 265,595 Cost of sales: Products Services Total cost of sales Gross margin 151,286 18,273 169,559 104,956 144,996 16,786 161,782 98,392 148,164 15,592 163,756 101,839 Operating expenses: Research and development Selling, general and administrative Total operating expenses 18,752 19,916 38,668 16,217 18,245 34,462 14,236 16,705 30,941 Operating income Other income/expense), net Income before provision for income taxes Provision for income taxes Net income 66,288 803 67,091 9,680 57,411 $ 63,930 1,807 65,737 10,481 55,256 $ 70,898 2,005 72,903 13,372 59,531 $ Earnings per share: Basic Diluted $ 3.31 $ 3.28 $ 2.99 $ 2.97 $ 3.00 2.98 $ Shares used in computing earnings per share: Basic Diluted 17,352,119 17,528,214 18,471,336 18,595,651 19,821,510 20,000,435 See accompanying Notes to Consolidated Financial Statements. 29. Award: 12.00 points Current Ratio: (text book pages 559-560 565) 6. Calculate the Current ratio. (SHOW YOUR WORK TO RECEIVE PARTIAL CREDIT. Calculate ratio to three decimal places.) b. Does this ratio appear favorable or unfavorable? Why? 30. Award: 12.00 points Profit Margin Ratio (text book pages 563, 565) Calculate the Profit Margin ratio SHOW YOUR WORK Calculate ratio to three decimal places) b. Does this ratio appear favorable or unfavorable? Why? 31. Award 18.00 points Accounts Receivable Turnover and Days Sales Unicollected textbook pages 561.565) o Colculate the Accounts Receivable Turnover ratio (SHOW YOUR WORK Calculatoratio to three decimal places) Calculate the Days Sales Uncollected ratio (SHOW YOUR WORK Calculate ratio to three decimal places) Does this ratio appear favorable or unfavorable? Why? 32. Award 18.00 points Inventory Tumover and Days Sales in Inventory text book pages 561, 565) a. Calculate the Inventory Turnoverato (SHOW YOUR WORK Calculate ratio to three decimal places) Calculate the Day' Sales In Irwantory rato (SHOW YOUR WORK Calculate tatio to three decimal places) Does this ratio appear favorable or unfavorable? Why? 33. Award 700 points Total Asset Turnover (Hext book pages 561.5658 Calculate the Total Asset Turnover ratio (SHOW YOUR WORK Calculate ratio to three decimal places) 34. Award 8.00 points Debt Ratio textbook pages 562.565) . Calculate the Debt ratio (SHOW YOUR WORK. Calculate ratio to three decimal places) b. What does this ratio tell you about Apple's risk? Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 26, September 28, September 29, 2020 2019 2018 $ Net sales: Products Services Total net sales 220,747 $ 53,768 274,515 213,883 $ 46,291 260,174 225,847 39,748 265,595 Cost of sales: Products Services Total cost of sales Gross margin 151,286 18,273 169,559 104,956 144,996 16,786 161,782 98,392 148,164 15,592 163,756 101,839 Operating expenses: Research and development Selling, general and administrative Total operating expenses 18,752 19,916 38,668 16,217 18,245 34,462 14,236 16.705 30,941 Operating income Other Income/(expense), net Income before provision for income taxes Provision for income taxes Net income 66,288 803 67,091 9,680 57,411 $ 63,930 1,807 65,737 10,481 55,256 $ 70,898 2,005 72,903 13,372 59,531 $ Earings per share: Basic Diluted 3.31 $ 3.28 $ 2.99 $ 2.97 $ 3.00 2.98 $ Shares used in computing earnings per share: Basic 17,352,119 17,528,214 18,471,336 18,595,651 19,821,510 20,000,435 Diluted See accompanying Notes to Consolidated Financial Statements, September 26, 2020 September 28, 2019 ASSETS Current assets: Cash and cash equivalents Marketable securities Accounts receivablo, net Inventories Vendor non-trade receivables Other current assets Total current assets 38,016 S 52,927 16,120 4,061 21,325 11.264 143.713 48,844 51713 22,926 4,106 22,878 12,352 162,819 100,887 36,766 42,522 180,175 323,888 $ 105,341 37,378 32,978 175,697 338,516 Non-current assots: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities 42,295 $ 42,684 6,843 4,996 8,773 105,392 46.236 37.720 5,522 5,980 10.260 105.718 Non-current liabilities: Torm debt Other non-current abilities Total non-current liabilities Total abilities 98.667 54.490 153.157 258,549 91,807 50 503 142,310 248,028 Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized: 16,978,763 and 17,772,945 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive incomo/lots) Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. 50,779 14.966 (406) 65,339 323,888 $ 45,174 45,898 (584) 90.488 338,516