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Common-Sized Balance Sheets The following end-of-the-year balance sheets (in millions) were adapted from recent financial statements of Apple (AAPL) . Year 1 Year 2 Current

Common-Sized Balance Sheets

The following end-of-the-year balance sheets (in millions) were adapted from recent financial statements of Apple (AAPL).

Year 1 Year 2
Current assets:
Cash $13,844 $21,120
Marketable securities 11,233 20,481
Accounts receivable 27,219 30,343
Inventory 2,111 2,349
Other 14,124 15,085
Total current assets $68,531 $89,378
Long-term assets:
Long-term marketable securities $130,162 $164,065
Property, plant, and equipment 20,624 22,471
Other long-term assets 12,522 14,565
Total long-term assets $163,308 $201,101
Total assets $231,839 $290,479
Current liabilities:
Accounts payable and similar liabilities $48,649 $60,671
Current portion of long-term debt 0 2,500
Other 14,799 17,439
Total current liabilities $63,448 $80,610
Long-term liabilities 56,844 90,514
Total liabilities $120,292 $171,124
Stockholders' equity
Common stock $23,313 $27,416
Retained earnings 87,152 92,284
Other items 1,082 (345)
Total stockholders' equity $111,547 $119,355
Total liabilities and stockholders' equity $231,839 $290,479

1. Prepare common-sized balance sheets for Apple for Years 1 and 2. Round your percentage answers to one decimal place. If an amount is zero, enter "0". (Note: Due to rounding, amounts may not total 100%.)

Apple
Common-Sized Balance Sheet
For Years 1 and 2
Year 1 Year 2 Increase (Decrease)
Current assets:
Cash % % %
Marketable securities
Accounts receivable
Inventory
Other
Total current assets % % %
Long-term assets:
Long-term marketable securities % % %
Property, plant and equipment
Other long-term assets
Total long-term assets % % %
Total assets % % %
Current liabilities:
Accounts payable and similar liabilities % % %
Current portion of long-term debt
Other
Total current liabilities % % %
Long-term liabilities
Total liabilities % % %
Stockholders' Equity
Common stock % % %
Retained earnings
Other items
Total stockholders' equity % % %
Total liabilities and stockholders' equity % % %

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