APPLE INC. Comparative Balance Sheets September 27,2014, and September 28, 2013 Dollar Change Percent Change 2014 2013 millions Assets $14,259 26,287 13,102 (15,054) 4,358 347 865 2,220 2,924 (4,755) 23,947 4,027 3,039 (57.3) 17,460 3.453 7,539 6,882 73,286 106,215 16,597 Vendor non-trade receivables 9,759 9,806 68,531 29.4 42.5 22.5 24.3 192.7 Goodwill. 4,616 Acquired intangible assets, net 4,142 3.764 5.14 .382) (26.9) $207,000 $ 24,839 Liabilities 367 13,856 7.435 0 43,658 2,625 16,960 20,208 83,451 7,829 35.0% 18,453 8,491 6,308 63,448 3,031 Accrued 1,056 6,308 19,790 406 2,027 4,618 36,841 Deferred 45.3 70.9 24,826 22.9 Total liabilities . Stockholders' Equity 19,764 87,152 1,082 104,256 (17,104) 1,553 23,549(2,002) $ 24,839 Accumulated other compre hensive income $207,000 APPLE INC. Comparative Income Statements For Years Ended September 27, 2014, and September 28, 2013 Dollar Change Percent Change $ millions, except per share 2014 2013 $11,885 5,652 6,233 1,566 1,163 2,729 3,504 $170,910 106,606 64,304 4,475 0,830 15,305 48,999 7.0% 5.3 9.7 35.0 10.7 7.8 7.2 70,537 6,041 Gross margin 18,034 Operating income Other income, net Income before provision Provision for income taxes . _... 52,503 9801.156 (176) (5.2) 53,483 13,973 3,328 855 2,473 $ 0.77 $ 0.77 6.6 6.5 6.7 13.5 13.6 50,155 13,118 37,037 $ 5.72 $ 5.68 . . . . . . _ . . . . . . .. Diluted earnings per s hare.. ....$ 6.45 Analyzing Financial Statements: Refer to Apple's financial statements in Appendix A to answer the following. g fiscal 2012 as the base year, compute trend percents for fiscal years 2012, 2013, and 2014 for net sales, cost of sales, operating income, other income (expense) net, provision for income taxes, and net income. (Round percents to one decimal.) 2) Compute common-size percents for fiscal years 2013 and 2014 for the following categories 3) Comment on any notable changes across the years for the income statement trends ) Compute the following ratios for 2014 and 2013 using the Apple financial statements found of assets: (a) total current assets; (b) property, plant and equipment, net; and (c) goodwill plus acquired intangible assets, net. (Round percents to one decim computed in part 1 and the balance sheet percents computed in part 2 in the Appendix and attached to this project: a) Current ratio b) Quick (or acid-test) ratio c) Profit margin d) Return on total assets (ROA) [Sept 29, 2012, total assets equaled $176,064.] e) Price-earnings ratio i) Stock price-9/27/14: $100.75 i) Stock price-9/28/13: $68.96 5) Comment on the change in the ratios from 2013 to 2014 computed above. Did something happen during those years to cause the change in the ratios? APPLE INC. Comparative Balance Sheets September 27,2014, and September 28, 2013 Dollar Change Percent Change 2014 2013 millions Assets $14,259 26,287 13,102 (15,054) 4,358 347 865 2,220 2,924 (4,755) 23,947 4,027 3,039 (57.3) 17,460 3.453 7,539 6,882 73,286 106,215 16,597 Vendor non-trade receivables 9,759 9,806 68,531 29.4 42.5 22.5 24.3 192.7 Goodwill. 4,616 Acquired intangible assets, net 4,142 3.764 5.14 .382) (26.9) $207,000 $ 24,839 Liabilities 367 13,856 7.435 0 43,658 2,625 16,960 20,208 83,451 7,829 35.0% 18,453 8,491 6,308 63,448 3,031 Accrued 1,056 6,308 19,790 406 2,027 4,618 36,841 Deferred 45.3 70.9 24,826 22.9 Total liabilities . Stockholders' Equity 19,764 87,152 1,082 104,256 (17,104) 1,553 23,549(2,002) $ 24,839 Accumulated other compre hensive income $207,000 APPLE INC. Comparative Income Statements For Years Ended September 27, 2014, and September 28, 2013 Dollar Change Percent Change $ millions, except per share 2014 2013 $11,885 5,652 6,233 1,566 1,163 2,729 3,504 $170,910 106,606 64,304 4,475 0,830 15,305 48,999 7.0% 5.3 9.7 35.0 10.7 7.8 7.2 70,537 6,041 Gross margin 18,034 Operating income Other income, net Income before provision Provision for income taxes . _... 52,503 9801.156 (176) (5.2) 53,483 13,973 3,328 855 2,473 $ 0.77 $ 0.77 6.6 6.5 6.7 13.5 13.6 50,155 13,118 37,037 $ 5.72 $ 5.68 . . . . . . _ . . . . . . .. Diluted earnings per s hare.. ....$ 6.45 Analyzing Financial Statements: Refer to Apple's financial statements in Appendix A to answer the following. g fiscal 2012 as the base year, compute trend percents for fiscal years 2012, 2013, and 2014 for net sales, cost of sales, operating income, other income (expense) net, provision for income taxes, and net income. (Round percents to one decimal.) 2) Compute common-size percents for fiscal years 2013 and 2014 for the following categories 3) Comment on any notable changes across the years for the income statement trends ) Compute the following ratios for 2014 and 2013 using the Apple financial statements found of assets: (a) total current assets; (b) property, plant and equipment, net; and (c) goodwill plus acquired intangible assets, net. (Round percents to one decim computed in part 1 and the balance sheet percents computed in part 2 in the Appendix and attached to this project: a) Current ratio b) Quick (or acid-test) ratio c) Profit margin d) Return on total assets (ROA) [Sept 29, 2012, total assets equaled $176,064.] e) Price-earnings ratio i) Stock price-9/27/14: $100.75 i) Stock price-9/28/13: $68.96 5) Comment on the change in the ratios from 2013 to 2014 computed above. Did something happen during those years to cause the change in the ratios