ANNUAL REPORT PROJECT ASSIGNMENT 6 Market Updates (Stock preis Price $122. on date 127.20 CURRENT ASSETS Name of company chosen: Apple Refer to the note to the financial statements. The first note, "Summary of Significant Ao counting Policies, provides information about the company's inventory costing and other ao counting methods. You will also need to refer to the other notes to the financial statements and to the financial statements themselves in order to answer the following questions, IMPORTANT: For whanu glen, indicate the page number on which the information was found THE BASICS 1. Accounts Receivable (a) What is the amount of the company's accounts recevable? Before subtracting the allowance for doubtful accounts (gross Recounts receivable) Page This year Last year After subtracting the allowance for doubtful accounts The accounts receivable) This year Last year th) What is the amount of the allowance for doubtful accounts? Pa Last year What percentage of the grow counts receivables are considered bud deb 17 The credit ratio Allowance for double punta counts receivable This year Last 2 LanetandColond Sold (a) What is the amount of eventory? Page 35 This year Last year Page (b) What is the amount of cost of goods sold? This year Last year 2 years ago Page (o What inventory costing method has the company chowa! (d) What other information does the company provide in the note about Page its inventory? FURTHER ANALYSIS Anabis CL Aucts | Calculate the following ration: SAM a Receivables tumer Sales Agnet meceivables the Aresage collection period Turnova te inventory Laudad treinvent Tdi Arenge sa investories held 105 mer Explain what information cach of these ration provides 13 os III O (c) (d) 5. Compare these rities to Industry werage Your company Lady Hecd vobles turnover Inventory tumewer How do the results for your company compare to industry avenges? INFORMATION FOR DECISION MAKING 6 Evaluate the company receivables collection. In your answer consider the type of pro das in the company sells the industry in which the company operates and the type of cor- tomer serves Refer the informaced in the pravdag questions 7. Evaluate the company inventory management in your awetconsider the type of pred the cell the industry in which the company operates and the type of mere Reinformation CON BOUDATO BALANCE SHEETS Onion, excepumber of twee which we reflected in thousands and para Supra 2015 2018 ASSETS: $ 25.913 2,10 O A Cash and cash equivalents Markenbe sent Accounts receivable Inventor Vendor non-trade recevable Other current andet Tou current ante 46. MAS 51713 22.00 4,100 22.670 12 352 25.000 12.007 11330 105.341 37 378 Noncursos Meble securities Property, plant and equipment, ne Other non-current Toulon-current Totalamu 170.799 41.304 22283 234560 17577 33-33103 LIA NUTIES AND SHAREHOLDERS' EQUITY: 46.2305 37.720 66.888 33327 Currentie Accounts payable Other current Deferred CompADO Turm debt current 5.90 10.200 105,78 11.14 76 715223 None Term Ore non AT 50.500 9373 45014 14 24600 Comment and continues 20201 70.400 She guy Commons and additional paid in 30 00001 par 12.000.000 shares od 4445236 and 4750 and uning respectively Fhwedeng Aconde comprime 45.114 4. 05541 SOS 107 Res and where See mpang Non Finanaman Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS in millions, except number of shares which are reflected in thousands and pershare amount) September 24, 2019 Yes anded September 26 2018 September 2017 Net Product Services Total net sales 213.13 $ 46.291 200,174 225,8475 39,748 265.625 190,834 32,700 Cast of Products Selvi Totalcoat of a God margin 144.996 16,766 161,762 98.392 146,164 15.52 163.750 101.839 126,307 14,711 141.00 88 185 Opening expenses Research and development Selling generat and administrative Toll operating expenses 16.217 18.245 34402 14236 16,705 30.ME 11.581 15.261 2682 Opetting income Other incomalepensel.net me before provision for income to Province Net income 63.930 1807 551737 10.451 55.250$ 70898 2.005 72.903 1372 59355 61344 2.745 bon 1573 Eatings per a 120ES 11.95 Deutid used in coming emings per share Banc 14.ar 3,000,190 4,648913 5251152 Seranying Nos con Finment September 29, 2018 and September 30, 2017 fin miliona; Cath, cash equivalents and marketable securities in Property, plant and equipment, net Commeron paper Tous em deb Working capital Cash generated by operating cines Cash generated by lowed in Investing actes Can used in financing activities $ $ $ $ $ $ 2019 205.898 $ 37378 5 5,980 $ 102.067 $ 57.101 5 69.391 5 45.896 $ 190.976) $ 2018 237,100 $ 41.3015 11.95$ 102.519 $ 15410 774345 15.066 $ (87.876) 5 2017 268.895 33.783 11977 103.703 28.792 64 225 146446) 01) As of September 20, 2019 and Serbia 23 tashqari ad mare de 189 ton and 20 vey that was allan heim Ad Daw Nowe Gross Margin Products and Services goss margin and grow margin percentage for 2019, 2018 and 2017 ware as follow (dollars in millions): 2019 2018 2017 Gross margin: $ 68 887 $ 77583 $ 70.197 Products 29,505 24.156 17.989 Services 98 392 101839 88,186 Tou gross margin Goss margin percentage: Products Services Tonigrom magen percentage 322% 63.1% 37.8% 34:45 5087 550 3851 te heading downward pressure Change 2018 14236 5% 2017 11.581 58 Operating Expenses Openting expenses for 2019, 2018 and 2017 were as follows (dollars in milions): 2019 Change Apsarch and development $ 16217 1495 Percentage of tot net sales 6% Suling guneral and administrativo 18245 95 Perostage of tot net sates Tot operating expenses 34A62 115$ Prentage of tout et sale 13% 16.705 05 15261 159 $ 26.842 30.941 125 Change Other Income Expense). Net Other compense), net OE) tor 2019, 2018 and 2017 was a tollows dollars in milions): Change rest and dividend income 4561 5.686 Interest expense 3.578) (3.2401 One oma tepeso) 1440) To other compone BOY more 2005 2017 5201 2.323) (135) 2,745 2743 The yearoyaardece in OWE dong 2019 was due many tower income and gainst party het by the mpact of boron exchange the weighed average interested by the Company on cash shes and intent was 22 10 2018 2016. ep Provision for Income Taxes Prometheve taxed taytederal income tax rate for 2014, 2015 and 2017 was 2018 2017 Prostorncome 2019 TOUT 159 20 183 246 Sutomata Total net sales Net income 2019 2018 2017 2016 2016 3200,174 3 265.395 $ 229,234 $215,6393 20,715 55,256 $ 59.5315 48,351 $ 45,687 $ $3,394 Esmingu per share Base Dautod 9.28 11.97$ 1189 $ 12.01$ 11.91 $ 927 $ 921 5 8.35 $ 8.31 $ Cash dividendis destare per share 3.00 $ 2:72 2.40 $ 1.98 2185 Shams une computing gamina pero Basic Dad 4,61%.834 4,648.913 4.955,377 5.080.109 5,217 242 5.251.592 5.470.820 5,500 281 5.53421 5,793.059 Tontoh. Satents and market securities $ 205,898 $ 237,100 5 268,8955. 237.585 5. 205.866 Totalants 3 338.510 $365,125 $375,319 $221.686$ 20,315 Non-current porton of me $ 91807 $ 23.7355 97-207 5 75,127 $ 53,329 Omer non current bien 50.503 3 48.911 5 142125 39.985$ 38,104 Property, Plant and Equipment.Net 2018 Land and buildings Machinery equipment and use software Lorehold wrofovements Gran properly stant and equipment Accumulated depreciation and amortization Toul property, plant and equipment, nel 2019 17.085 69,797 9.075 $5,357 158579) 37373 16:21 65,082 3.205 90403 149.0992 41304 Other Menu 2005 Longtemple Ohernet Rohoncurrent Other Income Expensel, et The blowing while shows the detail of ONE 2019, 2018 and 2017 in ons 5 Interest and dividend income Herste pense Other incompensel.no Total income tempel 2.576) 2010 S 3 320) (441) 2005 2017 5201 203) (139) STROT Note 5-home Tone U.S.Tuxus and Jobs Act On December 22, 2017, the US and the the outs and the Mer which try charged US www. The Ad beled the company's US dealne from 215 ctve January 2018 while opening a deemed prin converted to name The Add redanenin taxon certifiering to which the company has lected to record there was and The Company competed as outing for e income tax tech of the Act ng 2010. We with the US Sead Exchange Commons Accounting Nela Provision for Income Taxes and Etective Tax Rate The von Brincomatoes 209, 2018 and 2017 wing into 2017 2018 2011 Que Delmed 6364 2.2001 41425 SINI 7106 TO 5.0 13.12 361 2 Det med 08 1181 8.16 196) 15 5 TOT 5 15 Promet borgen 2015 and 2017 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY in mo, akceptpershan mo Y Sep 26 Sep 2010 107,1473 Sep Toreholderegully, beginning balance 13 12N 40201 35.67 Common stock and additional paid to Being Command Common stock wed to not het of ou 31251 586 (14601 2002 GIN 117) 5.463 Shan-based compensation The benefit from waduding ang nument Ending balances 330 50:531 193.735 5.34 68.35 Penge Beginning on Neil income Dividends and dividendowed Common stock where to rement of duty wa most purchased Cumuch ochonngocom Erinces 0.400 55.255 14.1203 (1.029) 17.10) 2501 45.00 1581 33.001) 1943 3.00 278 7200 300 150 034 Acouche comprenave me Begge Ohere income Choco changes in counting into Ending 0.454) 2.781 04 $ BOATS LOT 14TS to Teutoning 300 2725 10 Diamaradallunar ecard permeans 50 Secondo Apple the CONSOUDATED STATEMENTS OF CASH FLOWE in millione) www med Beplanet Sapien beper 2018 2018 2017 Cash, cash equivalente Android cah, beginning balance 30133 20.2003 2007 Operg Advies Not income $5,256 9.531 361 Mentato con nome la gener operating Deprecation and Ameton 12.547 10,003 10,157 Sa compensation expense 0.000 5.340 4540 Odered come tax po benet 040) (2.590) 5.000 Other 652) 44) 0166 Change in opening dat de Accountinet 245 6.322) R. Wor 2891 820 0.723) Vendor noadero 2,931 0.010) 254 Other current and noncuerne 873 H23) 5.310) Accounts payat 1223) 0,175 6.966 Dermed revenue 25 33 3593 Oner current and noncuran 2001 1449 1092 Cashgani by opening des 00391 7744 04225 winger Purchase a manable mounties 120.0301 (71.3561 1180 Hoonestamatutes 30.102 55.48 31.775 Podstromosom 56,988 0.83 4564 Payment of operty, equi 10.495 113313 12.461 Payments made in comeden with business 434 0211 020 Pomeries 001 11871 6211 Todo memories 1634 353 120 076) 0481 0124 Oning av 46.96 16.000 48.4401 Thng VIP do for 555 Pada tulad 2:17) 2.5271 Paytrends and did not (14119 113.7122 12.70 08.1971 172.738 3001 Promote 0903 3051 007 LOC Pond 077 37 3950 05 Grandy TO 11 De camerah 1834 $ 5025 59 781 23 2012 ANNUAL REPORT PROJECT ASSIGNMENT 6 Market Updates (Stock preis Price $122. on date 127.20 CURRENT ASSETS Name of company chosen: Apple Refer to the note to the financial statements. The first note, "Summary of Significant Ao counting Policies, provides information about the company's inventory costing and other ao counting methods. You will also need to refer to the other notes to the financial statements and to the financial statements themselves in order to answer the following questions, IMPORTANT: For whanu glen, indicate the page number on which the information was found THE BASICS 1. Accounts Receivable (a) What is the amount of the company's accounts recevable? Before subtracting the allowance for doubtful accounts (gross Recounts receivable) Page This year Last year After subtracting the allowance for doubtful accounts The accounts receivable) This year Last year th) What is the amount of the allowance for doubtful accounts? Pa Last year What percentage of the grow counts receivables are considered bud deb 17 The credit ratio Allowance for double punta counts receivable This year Last 2 LanetandColond Sold (a) What is the amount of eventory? Page 35 This year Last year Page (b) What is the amount of cost of goods sold? This year Last year 2 years ago Page (o What inventory costing method has the company chowa! (d) What other information does the company provide in the note about Page its inventory? FURTHER ANALYSIS Anabis CL Aucts | Calculate the following ration: SAM a Receivables tumer Sales Agnet meceivables the Aresage collection period Turnova te inventory Laudad treinvent Tdi Arenge sa investories held 105 mer Explain what information cach of these ration provides 13 os III O (c) (d) 5. Compare these rities to Industry werage Your company Lady Hecd vobles turnover Inventory tumewer How do the results for your company compare to industry avenges? INFORMATION FOR DECISION MAKING 6 Evaluate the company receivables collection. In your answer consider the type of pro das in the company sells the industry in which the company operates and the type of cor- tomer serves Refer the informaced in the pravdag questions 7. Evaluate the company inventory management in your awetconsider the type of pred the cell the industry in which the company operates and the type of mere Reinformation CON BOUDATO BALANCE SHEETS Onion, excepumber of twee which we reflected in thousands and para Supra 2015 2018 ASSETS: $ 25.913 2,10 O A Cash and cash equivalents Markenbe sent Accounts receivable Inventor Vendor non-trade recevable Other current andet Tou current ante 46. MAS 51713 22.00 4,100 22.670 12 352 25.000 12.007 11330 105.341 37 378 Noncursos Meble securities Property, plant and equipment, ne Other non-current Toulon-current Totalamu 170.799 41.304 22283 234560 17577 33-33103 LIA NUTIES AND SHAREHOLDERS' EQUITY: 46.2305 37.720 66.888 33327 Currentie Accounts payable Other current Deferred CompADO Turm debt current 5.90 10.200 105,78 11.14 76 715223 None Term Ore non AT 50.500 9373 45014 14 24600 Comment and continues 20201 70.400 She guy Commons and additional paid in 30 00001 par 12.000.000 shares od 4445236 and 4750 and uning respectively Fhwedeng Aconde comprime 45.114 4. 05541 SOS 107 Res and where See mpang Non Finanaman Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS in millions, except number of shares which are reflected in thousands and pershare amount) September 24, 2019 Yes anded September 26 2018 September 2017 Net Product Services Total net sales 213.13 $ 46.291 200,174 225,8475 39,748 265.625 190,834 32,700 Cast of Products Selvi Totalcoat of a God margin 144.996 16,766 161,762 98.392 146,164 15.52 163.750 101.839 126,307 14,711 141.00 88 185 Opening expenses Research and development Selling generat and administrative Toll operating expenses 16.217 18.245 34402 14236 16,705 30.ME 11.581 15.261 2682 Opetting income Other incomalepensel.net me before provision for income to Province Net income 63.930 1807 551737 10.451 55.250$ 70898 2.005 72.903 1372 59355 61344 2.745 bon 1573 Eatings per a 120ES 11.95 Deutid used in coming emings per share Banc 14.ar 3,000,190 4,648913 5251152 Seranying Nos con Finment September 29, 2018 and September 30, 2017 fin miliona; Cath, cash equivalents and marketable securities in Property, plant and equipment, net Commeron paper Tous em deb Working capital Cash generated by operating cines Cash generated by lowed in Investing actes Can used in financing activities $ $ $ $ $ $ 2019 205.898 $ 37378 5 5,980 $ 102.067 $ 57.101 5 69.391 5 45.896 $ 190.976) $ 2018 237,100 $ 41.3015 11.95$ 102.519 $ 15410 774345 15.066 $ (87.876) 5 2017 268.895 33.783 11977 103.703 28.792 64 225 146446) 01) As of September 20, 2019 and Serbia 23 tashqari ad mare de 189 ton and 20 vey that was allan heim Ad Daw Nowe Gross Margin Products and Services goss margin and grow margin percentage for 2019, 2018 and 2017 ware as follow (dollars in millions): 2019 2018 2017 Gross margin: $ 68 887 $ 77583 $ 70.197 Products 29,505 24.156 17.989 Services 98 392 101839 88,186 Tou gross margin Goss margin percentage: Products Services Tonigrom magen percentage 322% 63.1% 37.8% 34:45 5087 550 3851 te heading downward pressure Change 2018 14236 5% 2017 11.581 58 Operating Expenses Openting expenses for 2019, 2018 and 2017 were as follows (dollars in milions): 2019 Change Apsarch and development $ 16217 1495 Percentage of tot net sales 6% Suling guneral and administrativo 18245 95 Perostage of tot net sates Tot operating expenses 34A62 115$ Prentage of tout et sale 13% 16.705 05 15261 159 $ 26.842 30.941 125 Change Other Income Expense). Net Other compense), net OE) tor 2019, 2018 and 2017 was a tollows dollars in milions): Change rest and dividend income 4561 5.686 Interest expense 3.578) (3.2401 One oma tepeso) 1440) To other compone BOY more 2005 2017 5201 2.323) (135) 2,745 2743 The yearoyaardece in OWE dong 2019 was due many tower income and gainst party het by the mpact of boron exchange the weighed average interested by the Company on cash shes and intent was 22 10 2018 2016. ep Provision for Income Taxes Prometheve taxed taytederal income tax rate for 2014, 2015 and 2017 was 2018 2017 Prostorncome 2019 TOUT 159 20 183 246 Sutomata Total net sales Net income 2019 2018 2017 2016 2016 3200,174 3 265.395 $ 229,234 $215,6393 20,715 55,256 $ 59.5315 48,351 $ 45,687 $ $3,394 Esmingu per share Base Dautod 9.28 11.97$ 1189 $ 12.01$ 11.91 $ 927 $ 921 5 8.35 $ 8.31 $ Cash dividendis destare per share 3.00 $ 2:72 2.40 $ 1.98 2185 Shams une computing gamina pero Basic Dad 4,61%.834 4,648.913 4.955,377 5.080.109 5,217 242 5.251.592 5.470.820 5,500 281 5.53421 5,793.059 Tontoh. Satents and market securities $ 205,898 $ 237,100 5 268,8955. 237.585 5. 205.866 Totalants 3 338.510 $365,125 $375,319 $221.686$ 20,315 Non-current porton of me $ 91807 $ 23.7355 97-207 5 75,127 $ 53,329 Omer non current bien 50.503 3 48.911 5 142125 39.985$ 38,104 Property, Plant and Equipment.Net 2018 Land and buildings Machinery equipment and use software Lorehold wrofovements Gran properly stant and equipment Accumulated depreciation and amortization Toul property, plant and equipment, nel 2019 17.085 69,797 9.075 $5,357 158579) 37373 16:21 65,082 3.205 90403 149.0992 41304 Other Menu 2005 Longtemple Ohernet Rohoncurrent Other Income Expensel, et The blowing while shows the detail of ONE 2019, 2018 and 2017 in ons 5 Interest and dividend income Herste pense Other incompensel.no Total income tempel 2.576) 2010 S 3 320) (441) 2005 2017 5201 203) (139) STROT Note 5-home Tone U.S.Tuxus and Jobs Act On December 22, 2017, the US and the the outs and the Mer which try charged US www. The Ad beled the company's US dealne from 215 ctve January 2018 while opening a deemed prin converted to name The Add redanenin taxon certifiering to which the company has lected to record there was and The Company competed as outing for e income tax tech of the Act ng 2010. We with the US Sead Exchange Commons Accounting Nela Provision for Income Taxes and Etective Tax Rate The von Brincomatoes 209, 2018 and 2017 wing into 2017 2018 2011 Que Delmed 6364 2.2001 41425 SINI 7106 TO 5.0 13.12 361 2 Det med 08 1181 8.16 196) 15 5 TOT 5 15 Promet borgen 2015 and 2017 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY in mo, akceptpershan mo Y Sep 26 Sep 2010 107,1473 Sep Toreholderegully, beginning balance 13 12N 40201 35.67 Common stock and additional paid to Being Command Common stock wed to not het of ou 31251 586 (14601 2002 GIN 117) 5.463 Shan-based compensation The benefit from waduding ang nument Ending balances 330 50:531 193.735 5.34 68.35 Penge Beginning on Neil income Dividends and dividendowed Common stock where to rement of duty wa most purchased Cumuch ochonngocom Erinces 0.400 55.255 14.1203 (1.029) 17.10) 2501 45.00 1581 33.001) 1943 3.00 278 7200 300 150 034 Acouche comprenave me Begge Ohere income Choco changes in counting into Ending 0.454) 2.781 04 $ BOATS LOT 14TS to Teutoning 300 2725 10 Diamaradallunar ecard permeans 50 Secondo Apple the CONSOUDATED STATEMENTS OF CASH FLOWE in millione) www med Beplanet Sapien beper 2018 2018 2017 Cash, cash equivalente Android cah, beginning balance 30133 20.2003 2007 Operg Advies Not income $5,256 9.531 361 Mentato con nome la gener operating Deprecation and Ameton 12.547 10,003 10,157 Sa compensation expense 0.000 5.340 4540 Odered come tax po benet 040) (2.590) 5.000 Other 652) 44) 0166 Change in opening dat de Accountinet 245 6.322) R. Wor 2891 820 0.723) Vendor noadero 2,931 0.010) 254 Other current and noncuerne 873 H23) 5.310) Accounts payat 1223) 0,175 6.966 Dermed revenue 25 33 3593 Oner current and noncuran 2001 1449 1092 Cashgani by opening des 00391 7744 04225 winger Purchase a manable mounties 120.0301 (71.3561 1180 Hoonestamatutes 30.102 55.48 31.775 Podstromosom 56,988 0.83 4564 Payment of operty, equi 10.495 113313 12.461 Payments made in comeden with business 434 0211 020 Pomeries 001 11871 6211 Todo memories 1634 353 120 076) 0481 0124 Oning av 46.96 16.000 48.4401 Thng VIP do for 555 Pada tulad 2:17) 2.5271 Paytrends and did not (14119 113.7122 12.70 08.1971 172.738 3001 Promote 0903 3051 007 LOC Pond 077 37 3950 05 Grandy TO 11 De camerah 1834 $ 5025 59 781 23 2012
