CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 28, 2019 September 25, 2020 September 29, 2018 $ Net sales: Products Services Total net sales 220,747 $ 53.768 274,515 213,883 $ 46.291 260,174 225.847 39,748 265,595 Cost of sales: Products Services Total cost of sales Gross margin 151.286 18,273 169,559 104,956 144,996 16,786 161,782 98,392 148,164 15,592 163,756 101,839 Operating expenses: Research and development Selling, general and administrativo Total operating expenses 18.752 19,916 38.668 16,217 18.245 34,462 14.236 16,705 30.941 Operating income Other income/expense), net Income before provision for Income taxes Provision for income taxes Not income 86.288 803 57,091 9.680 57,411 $ 63.930 1.807 65.737 10,481 55,256 $ 70,898 2,005 72,903 13,372 59,531 $ Earnings per share: Basic Duted 3.31 S 3.2 $ 2.99 $ 2.97 $ 3.00 2.98 $ Share din computing samings per share 17,362,119 17.528.214 18.471.330 18.595.651 19.821,510 20,000.435 Duted Se company to Condidated Financial Statements 1 Apple Inc. CONSOLIDATED BALANCE SHEETS (In milions, except number of shares which are reflected in thousands and par value) September 26, September 26, 2019 2020 ASSETS: $ Current assets: Cash and cash equivalents Marketable securities Accounts receivablo, net Inventories Vendor non-trade receivables Other current assets Total current assets 38,016 $ 52 927 16,120 4,061 21,325 11,264 143,713 48,844 51,713 22.926 4,106 22,878 12,352 162,819 Non-current assets Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets 100,887 36,766 42,522 180.175 323,888 $ 105,341 37,378 32,978 175,697 338,516 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabies: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities 42.296 $ 42,684 6,643 4,996 8,773 105,392 46,235 37,720 5,522 5,980 10,260 105,718 Non-current liabilities Tenn debt Other non-current abates Total non-current is Total liabilities 98,667 54,490 153,157 258,549 91,807 50,503 142,310 248.028 Commitments and contingencies Shareholders' equity Common stock and additional paid in capital, 50.00001 par value: 50,400,000 shares authorized, 16,976,768 and 17.772.945 shares issued and outstanding, respectively Retained earrings Accumulated other comprehensive incomodoss) Total shareholders equity Total abilities and shareholders' equity 50,779 14.966 (405) 65,339 323,888 $ 45,174 45,898 (584) 90.488 338,516 $ See nocompanying Notes to Consolidated Financial Statements Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except per share amounts) Years ended September 26, September 28, September 29, 2020 2019 2018 $ 90,488 $ 107,147 $ 134,047 Total shareholders' equity, beginning balances 45,174 880 40,201 781 35,867 669 Common stock and additional paid-in capital: Beginning balances Common stock issued Common stock withheld related to net share settlement of equity awards Share-based compensation Ending balances (2,250) 6,975 50,779 (2,002) 6,194 45, 174 (1,778) 5,443 40,201 45,898 57,411 (14,087) 70,400 55,256 (14,129) 98,330 59,531 (13,735) Retained earnings: Beginning balances Net income Dividends and dividend equivalents declared Common stock withhold related to not share settlement of equity awards Common stock repurchased Cumulative effects of changes in accounting principles Ending balances (1,604) (72,516) (136) 14,966 (1,029) (67,101) 2,501 45,898 (948) (73,056) 278 70,400 Accumulated other comprehensive income (los): Beginning balances Other comprehensive income foss) Cumulative effects of changes in accounting principles Ending balances (584) 42 136 (406) (3.454) 2.781 89 (584) (150) (3.026) (278) (3.454) 65,339 $ 90,4885 107,147 s 0.795 $ 0.75 S 0.68 Total shareholders' equity, unding balances Dividends and dividend equivalents declared per share ar RSU So sccompanying Notes to Consolidated Financial Statements. Apple Inc. Notes to Consolidated Financial Statements Note 1 - Summary of Significant Accounting Policies Basis of Presentation and Preparation The consolidated financial statements include the accounts of Apple Inc. and its wholly owned subsidiaries (collectively "Apple" or the Company). Intercompany accounts and transactions have been eliminated. In the opinion of the Company's management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. The preparation of these consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior period amounts in the consolidated financial statements and accompanying notes have been reclassified to conform to the current period's presentation The Company's fiscal year is the 52. or 53-wook period that ends on the last Saturday of September. The Company's fiscal years 2020, 2019 and 2018 spanned 52 weeks each. An additional work is included in the first fiscal quarter every five or six years to realign the Company's fiscal quarters with calondar quarters. Unless otherwise stated, references to particular years, quarters, months and periods refer to the Company's fiscal years ended in September and the associated quarters, months and periods of those fiscal years. Common Stock Split On August 28, 2020, the Company affected a four-for-one stock split to shareholders of record as of August 24, 2020. All share, restricted stock unit (RSU) and per share or por RSU information has been retroactively adjusted to reflect the stock split. Recently Adopted Accounting Pronouncements Losos At the beginning of the first quarter of 2020, the Company adopted the Financial Accounting Standards Board's (the "FAS8") Accounting Standards Update (ASU) No 2016-02, Losses (Tople 842) CASU 2016-02"), and additional ASUS issued to clarify and update the guidance in ASU 2016-02 (collectively, the new leases standard), which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and abilities for operating losses and disclosing key Information about losing arrangements. The Company adopted the new leases standard utilizing the modified retrospective transition method, under which amounts in prior periods presented were not restated. For contracts existing at the time of adoption, the Company elected to not reassess) whether any are or contain lases, lease classification, and initial direct Co Upon adoption, the Company recorded $7.5 billion of right-of-use ("ROU assets and 58.1 billion of lease liabilities on its Condensed Consolidated Balance Sheet Hedging At the beginning of the first quarter of 2020, the Company adopted FASB ASU No. 2017-12. Derivatives and Hedging (Topic 815: Targeted improvement to Accounting for Hedging Activities ("ASU 2017-12) ASU 2017-12 expande component and fair value hedging, species the presentation of the effects of hedging Instrumenta, eliminates the separate measurement and presentation of hedge infectiveness, and updates disclosure requirements related to hedging. The Company adopted ASU 2017-12 uring the modified rutrospective transition method. Upon adoption, the Company recorded a $136 milion Increase in Roculated other comprehensive incomodos) PAOCT) and a corresponding decrease in retained earnings in the Condensed Consolidated Statement of Shareholders' Equity Advertising Coats Novertingose expensed us incurred and included in galing general and administre expenses Share-Based Compensation The Company generally measures shared compensation based on the closing prion of the Company's common stock on the data for andros expert on wone basis for its estimate of equity awards that will imately Vest ed States) Earnings Per Share The following table shows the computation of basic and diluted earnings per share for 2020, 2019 and 2018 (not income in millions and shares in thousands): 2020 2019 2018 Numerator Net Income $ 57.411 $ 55,250 $ 59,531 Denominator Weighted average basic shares outstanding Effect of dilutive securities Weighted average diluted shares 17,352,119 176,096 17 528.214 18.471,305 124,315 18.595,651 19,821,510 178,925 20,000,435 $ 3.31 S 3.28 $ Basio samnings per share Diluted earrings per share 2.99 $ 2.97 $ 3.00 2.08 The Company applies the treasury stock method to determine the difutive effect of potentially dilutive securities. Potentially di five securities representing 62 milion shares of common stock were excluded from the computation of diluted earnings per share for 2019 because their effect would have been antidiulive. Cash Equivalents and Marketable Securities All Nighy liquid investments with matures of three months or less at the date of purchase are classified as cash equivalents. The Company's Investments in martable debt securities have been classified and accounted for as available for sale. The Company cases its marketablo debt securities as the short-term or long term based on each instrument's underlying contractual maturity Sate. Unreared gains and losses on marketable debt securities classified as available for sale are recognized in other comprehensive income) roch. The Company's investments in marketable equity securities are assified based on the nature of the securities and their availability for use in current operations. The Company's marketable equity securities are measured at a value with gains and recognized in other incompetent (OIE). The cost of securities soldatened using the specific identification method. Inventories Invertoare measured on the first out method Property. Plant and Equipment Depreciation on property, plant and equipment is recogid on right-ne basis over the estimated seves of the asset which for buildings is the lower of 40 years or the remaining of the building between one and five years for machinery and equipment including product tooling and manufacturing process equipment and the shorter of fase term or useful life for hold improvements. Capitalud corned to make software are amortized on a straight-line basis over the med lives of thes, which are from there to seven years. Depreciation and amortization expense on property and equipment was 0.7 billion $11.3 billion and $9.3 billion during 2020, 2010 and 2016, respectively Non chesting activities involving property, plant and ched in an increder) to accounts payable and other cunts of $20 bilion and on during 2015 and 2018, pectively (United States) Answer the questions from above 1. What is the amount of cash and cash equivalents on hand and in bank accounts that the company has? 2. What is the name of the company's Balance Sheet Multiple Choice 1.Consolidated Statement of Assets, Liabilities and Equity 2.Consolidated Statement of Earnings 3. Consolidated Balance Sheet 4.Statement of Cash Flows 3. What is the amount of goods the company acquired to resell to customers? 4. What amount is owed to the company from customers? (Net) I 5. Is their investment in Property, Plant and Equipment increasing or decreasing Multiple Choice 1 Increasing 2.Decreasing 3. Stayed the same 4. No information given glish (United States) 6. What is the amount of total liabilities? 7. What is the total amount of liabilities that are due within one year or operating cycle? I I 8. What is Apple's largest single asset? 9. What is the amount of Total Current Assets? 10. How much did their investment in Property, Plant and Equipment increase or decrease