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Apple, Inc. Consolidated Balance Sheets ( In millions, except number of shares which are reflected in thousands and par value ) September 2 8 ,

Apple, Inc.
Consolidated Balance Sheets
(In millions, except number of shares which are reflected in thousands and par value)
September 28,2019 September 29,2018 Select data from 2017
Current assets
Cash and cash equivalents $48,844 $25,913
Marketable securities 51,71340,388
Accounts receivable, net 22,92623,18617,874
Inventory 4,1063,9564,855
Vendor non-trade receivables 22,87825,809
Other current assets 12,35212,087
Total current assets 162,819131,339
Non-current assets
Marketable securities 105,341170,799
Property, plant and equipment, net 37,37841,304
Other non-current assets 32,97822,283
Total non-current assets 175,697234,386
Total assets $338,516 $365,725 $375,319
Current liabilities
Accounts payable $46,236 $55,888
Other current liabilities 37,72033,327
Deferred revenue 5,5225,966
Commercial paper 5,98011,964
Term debt 10,2608,784
Total current liabilities 105,718115,929
Non-current liabilities
Term debt 91,80793,735
Other non-current liabilities 50,50348,914
Total non-current liabilities 142,310142,649
Total liabilities 248,028258,578
Shareholders' equity
Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively 45,17440,201
Retained earnings 45,89870,400
Accumulated other comprehensive income (loss)(584)(3,454)
Total shareholders' equity 90,488107,147
Total liabilities and shareholders' equity $338,516 $365,725
Apple, Inc.
Consolidated Statements of Operations
(In millions, except per share amounts)
Years ended September 28,2019 September 29,2018 September 30,2017
Net sales 260,174265,595229,234
Cost of sales 161,782163,756141,048
Gross margin 98,392101,83988,186
Operating expenses:
Research and development 16,21714,23611,581
Selling, general and administrative 18,24516,70515,261
Total operating expenses 34,46230,94126,842
Operating income 63,93070,89861,344
Other income (expense), net 1,8072,0052,745
Income before provision for income taxes 65,73772,90364,089
Provision for income taxes 10,48113,37215,738
Net income $55,256 $59,53148,351
Weighted-average common shares outstanding (used to find EPS):
Basic number of shares 4,617.834
Market value (price) per share (to find PE ratio):
Market price per share on Sept. 30,2019 $293.65 Ch.4
Is the change from 2018 to 2019 in your company's gross margin ratio favorable or unfavorable?
Enter "favorable" or "unfavorable" in your 2019 column.
Ch.5
Calculate the inventory turnover for each company in 2019 and 2018. Use formulas with cell references.
Ch.5
For 2019 and 2018, did your company's inventory turnover underperform or outperform the industry's average turnover of 15? Enter "underperform" or "outperform" for each company for each year.
Ch.5
Calculate the days' sales in inventory for each company in 2019 and 2018. Use formulas with cell references.
Ch.6
Calculate the days' sales uncollected for each company in 2019 and 2018. Use formulas with cell references.
For 2019 and 2018, select the company that was most successful in collecting receivables and fill in the cells with yellow. (Select two cells as a team -- for each year choose Apple, Google, or Samsung.)
Ch.7
Calculate the accounts receivable turnover for each company in 2019 and 2018. Use formulas with cell references. For 2019 and 2018, select the company that most quickly collects its accounts receivable and fill in the cells with yellow. (Select two cells as a team -- for each year choose Apple, Google, or Samsung.)

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