Chapter 86 Refer to Apple's financial statements in Appendix A to answer the following 1. What percent of the original cost of Apple's Property, Plant and Equipment account remains to be depreciated as of (a) September 28, 2019, and (6) September 29, 2018? Assume these assets have no salvage value and the entire account is depreciable. Hints Accumulated Depreciation is listed under "Property, Plant and Equipment in the notes to Apple's financial statements in Appendix A 2. Much research and development are needed to create the next iPhone Do companies capitalize and amortize research and development costs over the life of the product, or are research and development costs expensed as incurred? 3. Compute Apple's total asset turnover for the year ended (a) September 28, 2019, and (6) September 29, 2018. Total assets at September 30, 2017. are $375,319 (5 millions) 4. Using the results in part 3, is the change in Apple's asset turnover favorable or unfavorable? Complete this question by entering your answers in the tabs below Required Required 2 Bequired Required 4 What percent of the original cost of Apple's Property, plant and Equipment count remains to be depreciated as of (a) September 28, 2019, and () September 29, 2018? Assume these assets have no salvage value and the entire account is depredable. Hint: Accumulated Depreciation is listed under "Property, Plant and Equipment" in the notes to Apple's financial statements in Appendix A. (Round your answers to decimal place.) Show less of Original Cost (6) September 28, 2019 (b) September 29, 2018 Meghness Required 2 > Refer to Apple's financial statements in Appendix A to answer the following 1. What percent of the original cost of Apple's Property, Plant and Equipment account remains to be depreciated as of (a) Septemt 28, 2019, and (5) September 29, 2018? Assume these assets have no salvage value and the entire account is depreciable Hint Accumulated Depreciation is listed under "Property, Plant and Equipment in the notes to Apple's financial statements in Appendi- 2 Much research and development are needed to create the next iPhone. Do companies capitalize and amortize research and development costs over the life of the product, or are research and development costs expensed as incurred? 3. Compute Apple's total asset turnover for the year ended (a) September 28, 2019, and (6) September 29, 2018. Total assets at September 30, 2017, are $375,319 (5 millions) 4. Using the results in part 3, is the change in Apple's asset turnover favorable or unfavorable? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute Apple's total asset turnover for the year endelca) September 28, 2019, and (b) September 29, 2018. Total assets at September 30, 2017, are $375,319 (5 millions). (Round your answers to 2 decimal places.) Total Asset Turnover 6) September 28, 2019 times 06) September 29, 2018 A-1 Aonde Francial Statement formation APPLE September 29, 2018 5 Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 28, 2019 FASSETS Current Cash and cash equivalent S Martable securities 5.713 1926 Accounts receivable.net lavors 4106 Vendor non-trade motivables 2208 Other current 12. 152 Tot current 162919 Non- cents Marketable securities 305 Property, plamandement et 37.375 Other current 32.972 125.000 Totalt MI 25,913 40.5% 23,186 34956 25,809 12.07 170790 4130 23 366,7 LIABILITIES AND SHAREHOLDERS' EQUITY 5518 97,720 3960 Cure illite Actable Other Detendeve Commercial Term Torrent while Nunctie Tem dete Die 105.71 LIS NE 9733 2014 1310 wi Mah atitis Shah CSO 12.000.000 where and wipe Home America 5.176 HOT A . Tall SNC APPLE September 30, 2017 5 196,534 32.700 229.234 126337 14,711 141,043 88,186 Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Yeurs ended September 28, 2019 September 29, 2018 Sesale Products 213,883 S 225.847 Services 46.291 39,745 Total net sales 200,174 265 595 Cost of sales Products 144.996 148.164 Services 16.786 15.592 Total cost of sales 161.72 161,756 Grows margin 98,392 101.839 Operating expenses Research and development 16.217 14.236 Selling, general and administrative 18.45 16,705 Tocal operating capetes 34462 30,941 Operating income 63,930 700898 Other income (expense), 1. 2.005 Income before orion for income taxes 65.737 72.903 Provision for income taxes 10,481 13,372 Net Income 352256 50 51 Earnings pier share Basic 11.97 1201 Diluted 119 1191 Shoessed in competing compare 4617834 4.955377 Diluted 4648013 ..100 See companying Notes to Comunalidated Financial Stats 11.581 15.261 26.842 61344 2,745 64 ONS 15.738 48351 5 9.21 5.217.242 325.092 Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In million Versende September 23, 2019 September 29, 2018 September 30, 2017 Net 55 2565 40151 O conhece & Huy l chu ky lut H 4H Law 234 35 Changelo derivats 868 BLO 23 27 7 A-3 Append Financial Statement Information APPLE September 30, 2017 s 128.249 31,2511 555 (1468) 4,909 620 35.567 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY in millions Years ended September 28, 2019 September 29, 2018 Total shareholders equity, beginning balances 107.147 S 134.047 Common stock and additional paid-in capital Beginning balances 40201 35.867 Common stock issued 781 669 Common stock withheld related to net shure settlement of equity awards 12.002 1.778) Share based compensation 6.194 5,443 Tax benefit from equity awards, including transfer pricing adjustments Ending balances 45,174 40.301 Retained earnings Beginning holances 2,400 9.330 Net income 55.256 59 511 Dividends and dividend equivalent declared (14.129 (1335) Commonweck withbold related to not share stilement of qally wade CM) Common stock repurdused 67,101 173.036) Cumulative effects of changes in accounting principles 22501 278 Ending balances 70.00 Acculated the comprehensive income dow) Being alone 3.454 (150 Other comprehensive income dou) 2.781 106 Cumulative effects of citing principles 9 27 Kinding balance (5) 1454 Total shareholde tyd holances 904 10.1 96.64 (12.03 (1029) (SD COD 30 (10 Se coming to Condalediumil Se Chapter 86 Refer to Apple's financial statements in Appendix A to answer the following 1. What percent of the original cost of Apple's Property, Plant and Equipment account remains to be depreciated as of (a) September 28, 2019, and (6) September 29, 2018? Assume these assets have no salvage value and the entire account is depreciable. Hints Accumulated Depreciation is listed under "Property, Plant and Equipment in the notes to Apple's financial statements in Appendix A 2. Much research and development are needed to create the next iPhone Do companies capitalize and amortize research and development costs over the life of the product, or are research and development costs expensed as incurred? 3. Compute Apple's total asset turnover for the year ended (a) September 28, 2019, and (6) September 29, 2018. Total assets at September 30, 2017. are $375,319 (5 millions) 4. Using the results in part 3, is the change in Apple's asset turnover favorable or unfavorable? Complete this question by entering your answers in the tabs below Required Required 2 Bequired Required 4 What percent of the original cost of Apple's Property, plant and Equipment count remains to be depreciated as of (a) September 28, 2019, and () September 29, 2018? Assume these assets have no salvage value and the entire account is depredable. Hint: Accumulated Depreciation is listed under "Property, Plant and Equipment" in the notes to Apple's financial statements in Appendix A. (Round your answers to decimal place.) Show less of Original Cost (6) September 28, 2019 (b) September 29, 2018 Meghness Required 2 > Refer to Apple's financial statements in Appendix A to answer the following 1. What percent of the original cost of Apple's Property, Plant and Equipment account remains to be depreciated as of (a) Septemt 28, 2019, and (5) September 29, 2018? Assume these assets have no salvage value and the entire account is depreciable Hint Accumulated Depreciation is listed under "Property, Plant and Equipment in the notes to Apple's financial statements in Appendi- 2 Much research and development are needed to create the next iPhone. Do companies capitalize and amortize research and development costs over the life of the product, or are research and development costs expensed as incurred? 3. Compute Apple's total asset turnover for the year ended (a) September 28, 2019, and (6) September 29, 2018. Total assets at September 30, 2017, are $375,319 (5 millions) 4. Using the results in part 3, is the change in Apple's asset turnover favorable or unfavorable? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute Apple's total asset turnover for the year endelca) September 28, 2019, and (b) September 29, 2018. Total assets at September 30, 2017, are $375,319 (5 millions). (Round your answers to 2 decimal places.) Total Asset Turnover 6) September 28, 2019 times 06) September 29, 2018 A-1 Aonde Francial Statement formation APPLE September 29, 2018 5 Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 28, 2019 FASSETS Current Cash and cash equivalent S Martable securities 5.713 1926 Accounts receivable.net lavors 4106 Vendor non-trade motivables 2208 Other current 12. 152 Tot current 162919 Non- cents Marketable securities 305 Property, plamandement et 37.375 Other current 32.972 125.000 Totalt MI 25,913 40.5% 23,186 34956 25,809 12.07 170790 4130 23 366,7 LIABILITIES AND SHAREHOLDERS' EQUITY 5518 97,720 3960 Cure illite Actable Other Detendeve Commercial Term Torrent while Nunctie Tem dete Die 105.71 LIS NE 9733 2014 1310 wi Mah atitis Shah CSO 12.000.000 where and wipe Home America 5.176 HOT A . Tall SNC APPLE September 30, 2017 5 196,534 32.700 229.234 126337 14,711 141,043 88,186 Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Yeurs ended September 28, 2019 September 29, 2018 Sesale Products 213,883 S 225.847 Services 46.291 39,745 Total net sales 200,174 265 595 Cost of sales Products 144.996 148.164 Services 16.786 15.592 Total cost of sales 161.72 161,756 Grows margin 98,392 101.839 Operating expenses Research and development 16.217 14.236 Selling, general and administrative 18.45 16,705 Tocal operating capetes 34462 30,941 Operating income 63,930 700898 Other income (expense), 1. 2.005 Income before orion for income taxes 65.737 72.903 Provision for income taxes 10,481 13,372 Net Income 352256 50 51 Earnings pier share Basic 11.97 1201 Diluted 119 1191 Shoessed in competing compare 4617834 4.955377 Diluted 4648013 ..100 See companying Notes to Comunalidated Financial Stats 11.581 15.261 26.842 61344 2,745 64 ONS 15.738 48351 5 9.21 5.217.242 325.092 Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In million Versende September 23, 2019 September 29, 2018 September 30, 2017 Net 55 2565 40151 O conhece & Huy l chu ky lut H 4H Law 234 35 Changelo derivats 868 BLO 23 27 7 A-3 Append Financial Statement Information APPLE September 30, 2017 s 128.249 31,2511 555 (1468) 4,909 620 35.567 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY in millions Years ended September 28, 2019 September 29, 2018 Total shareholders equity, beginning balances 107.147 S 134.047 Common stock and additional paid-in capital Beginning balances 40201 35.867 Common stock issued 781 669 Common stock withheld related to net shure settlement of equity awards 12.002 1.778) Share based compensation 6.194 5,443 Tax benefit from equity awards, including transfer pricing adjustments Ending balances 45,174 40.301 Retained earnings Beginning holances 2,400 9.330 Net income 55.256 59 511 Dividends and dividend equivalent declared (14.129 (1335) Commonweck withbold related to not share stilement of qally wade CM) Common stock repurdused 67,101 173.036) Cumulative effects of changes in accounting principles 22501 278 Ending balances 70.00 Acculated the comprehensive income dow) Being alone 3.454 (150 Other comprehensive income dou) 2.781 106 Cumulative effects of citing principles 9 27 Kinding balance (5) 1454 Total shareholde tyd holances 904 10.1 96.64 (12.03 (1029) (SD COD 30 (10 Se coming to Condalediumil Se