Background and practice Start your research by referring to Apple's fiscal 2018 (Year Ended September 29, 2018) in Appendix A of our textbook. Find the Consolidated Balance Sheet, then the section that lists the number of shares of common stock authorized, issued and outstanding. For example, here are the number of share information you should locate in the textbook Appendix A: Number of Shares Authorized: 12,600.000 Number of Shares Issued and outstanding 9/29/2018 4,754.986 Number of Shares Issued and outstanding 9/30/2017 5,126,201 Next you will be looking for information in more current financial statements in the Apple Annual Report. Instructions to Create Your Post Locate the current Apple Annual Report. To find it: Search the internet for Apple's fiscal year 2020 annual report 10-K. Suggested steps to follow when doing your internet search: Search for Apple Investor Relations, from there select SEC Filings, from the pull-down select Annual Filings, then locate the 10 K Annual Report with the Date Oct. 30, 2020. That is not the year end date, it is the publication date. The year-end is September 26, 2020. Choose the format you want to view the report in, I like the pdf. Once you have arrived there, see the Annual Report table of contents (scroll down it is on the third page) to help to locate the financial statements and supplementary data (Item 8, page 30). For your first post answer each of the following four prompts 1. View the consolidated Balance Sheets for Apple, Inc. for the fiscal years ended 9/26/2020 and 9/28/2019. How many shares of common stock are authorized? 2. View the 9/26/2020 Apple Annual Report, Notes to the Financial Statements, Note 1 - Summary of Significant Accounting Policies. Explain why the number of shares authorized for the years ended 9/29/2018 and 9/30/2017 noted in the example above (for background and practice) are significantly different than the number of shares authorized for the year ended 9/26/2020. Include the mathematical calculation of how the number of shares authorized was calculated to change from the number of shares authorized on 9/29/2018 to the number of shares authorized on 9/26/2020. 3. View the Report of Independent Registered Public Accounting Firm included in the Annual Report. (Hint: try the index to Consolidated Financial Statements to help locate it) What is the name of the company who signed the audit report? What date was the report signed? The company has served as Apple Inc's auditor since what year? 4. View Apple's Consolidated Financial Statements, Note 1 - Summary of Significant Accounting Policies, Basis of Presentation and Preparation. Why does Apple's fiscal year end fall on different dates, why isn't each year end dated September 30? Explain clearly why the dates are different each year
