8. What does Apple classify as "Cash and Cash equivalents"? 9. Assuming all sales are credit sales, what is Apple's Accounts Receivable Turnover in 2022 ? Compare Apple's Accounts Receivable Turnover Ratio with that of Microsoft and Amazon in 2022. What conclusion can you draw about Apple's Accounts Receivable collection efficiency? Note: To answer this question, you need to download the 2022 annual reports of Microsoft and Amazon (ignore any difference in fiscal year end date), and compute the accounts receivable turnover ratio for them as well. 10. What is Apple's Inventory cost flow assumption? Compared with other alternatives, ceteris paribus, how does the chosen assumption affect Apple's COGS, Net Income, and Cash balance? 11. On an average basis, how long does it take Apple to sell inventory in fiscal year 2022 ? Compare it with that of Microsoft and Amazon and assess Apple's inventory utilization efficiency. Note: To answer this question, you need to download the 2022 annual reports of Microsoft and Amazon (ignore any difference in fiscal year end date) and compute the corresponding ratio for the two firms. Statement of Cash Flows 12. In 2022, overall which activity (operating, investing, or financing) is generating cash, which activity is using cash? Is the pattern same as that in 2020 and 2021 ? 13. How much is Apple's Free Cash Flow in each year from 2020 to 2022? What can you infer from this time trend? 14. Why do "Depreciation and amortization" and "Share-based compensation expense" enter as positive amounts in the Statement of Cash Flows