Apple Inc. Comparative Financial Statements

Income Statement for Years Ended September 30, 2021, 2022, 2023

• Revenue: $365,817, $394,328, $412,675
• Cost of Revenue: $212,981, $232,364, $246,589
• Gross Profit: $152,836, $161,964, $166,086
• Operating Expenses: $46,883, $48,290, $49,873
• Operating Income: $105,953, $113,674, $116,213
• Interest Expense: $3,478, $3,573, $3,659
• Income Before Tax: $102,475, $110,101, $112,554
• Income Tax Expense: $15,321, $16,515, $17,034
• Net Income: $87,154, $93,586, $95,520

Balance Sheet as of September 30, 2021, 2022, 2023

• Assets
  • Current Assets: $134,836, $138,947, $144,320
  • Property, Plant, Equipment, Net: $41,922, $44,289, $46,325
  • Intangible Assets: $8,290, $8,978, $9,543
  • Total Assets: $185,048, $192,214, $200,188
• Liabilities and Equity
  • Current Liabilities: $125,321, $130,987, $137,542
  • Long-Term Debt: $61,921, $63,320, $64,825
  • Shareholders' Equity: $(2,194), $(2,093), $(2,179)
  • Total Liabilities and Equity: $185,048, $192,214, $200,188

Requirements

1. Compute the gross profit margin for each year.
2. Determine the operating income as a percentage of revenue for each year.
3. Calculate the interest coverage ratio for each year.
4. Assess the current ratio for each year.