A well thought out one paragraph answer to each question should suffice. Must includespecific explanations.

Look at the accompanying file with Apple's financial statements from 2010-2012 and explain why Apple used no debt financing during this period

APPLE THREE-YEAR FINANCIAL HISTORY Results of Operations (in $ millions, except shares in thousands, per share amounts) TOSPECIFY 2012 HEREFY 2011 WORFY 2010 Net sales: Domestic $60,949 $41,812 $28,633 International 95,559 66,437 36,592 Total net sales 156,508 108,249 65,225 Costs and operating expenses: Cost of sales 87,846 64,431 39,541 Research and development (R&D) 3,381 2,429 1,782 Selling, general and administrative (SG&A) 10,040 7,599 5,517 Total operating expenses 13,421 10,028 7,299 Operating income 55,241 33,790 18,385 Other income/(expense), net 522 415 155 Income before provision for income taxes 55,763 34,205 18,540 Provision for income taxes 14,030 8,283 4,527 Net income $41,733 $25,922 $14,013 Diluted earnings per share $44.15 $27.68 $15.15 Shares used in computing diluted earnings per share (in thousands) 945,355 936,645 924,712 Cash dividends declared per common share $2.65 $0.00 $0.00 Financial Position $ millions September 29, 2012 September 24, 201 1 September 25, 2010 Cash, cash equivalents and marketable securities $121,251 $81,570 $51,011 Accounts receivable, net $10,930 $5,369 $5,510 Inventories $791 $776 $1,051 Property, plant and equipment, net $15,452 $7,777 $4,768 Total assets $176,064 $116,371 $75,183 Current liabilities $38,542 $27,970 $20,722 Non-current liabilities $19,312 $11,786 $6,670 Shareholders' equity $118,210 $76,615 $47,791 Other Data (Unaudited) September 29, 2012 September 24; 2011 September 25, 2010 Regular employees 72,800 60,400 46,600 Temporary employees and contractors 3,300 2,900 2,800 WOULD FY 2012 FY 2011 FY 2010 International net sales as a percentage of total net sales 319% 61% 5 6% Gross margin as a percentage of net sales 43.96 40.5% 39.49% R&D as a percentage of net sales 29% 39% SG&A as a percentage of net sales 696 7% 89% Operating income as a percentage of net sales 359% 31% 28% Return on net sales 27% 24% 21% Price range per common share $354.24 - $705.07 $275.00 - $422.86 $180.70 - $293.53