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Consider the financial data for Apple Inc. for the year ended September 30, 2023: Revenue: $5,200,000 Cost of goods sold: $2,800,000 Gross profit: $2,400,000 Operating


Consider the financial data for Apple Inc. for the year ended September 30, 2023:

  • Revenue: $5,200,000
  • Cost of goods sold: $2,800,000
  • Gross profit: $2,400,000
  • Operating expenses: $1,100,000
  • Interest expense: $200,000
  • Income tax expense: $350,000
  • Net income: $750,000
  • Dividends paid: $100,000
  • Cash: $400,000
  • Accounts receivable: $300,000
  • Inventory: $200,000
  • Property, plant, and equipment: $1,400,000
  • Accounts payable: $250,000
  • Long-term debt: $600,000

Instructions:

  • a) Prepare a comprehensive income statement for the year ended September 30, 2023.
  • b) Prepare a balance sheet as of September 30, 2023.
  • c) Calculate the current ratio.
  • d) Determine the return on equity (ROE).
  • e) Prepare a statement of cash flows for the year ended September 30, 2023.

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