Discussion #3 Criteria Ratings Pts 4 pts Question #1 Based on Apple Computers Income Statement (they call it their Statement of Operations), did Apple have a good year (financial performance) in 2020? Please detail how you came to your conclusion, with numbers, %, or ratios. O pts Full No Marks Marks 4 pts 4 pts O pts Full No Marks Marks Question #2 Based on Apple Computers Income Statement (they call it their Statement of Operations) and Balance Sheet, did Apple improve their financial standings in 2020 as compared to 2019? Please detail how you came to your conclusion, with numbers, %, or ratios. 4 pts Question #3 Question #3 How might Apple use these financial statements internally to help manage the company and/or externally with lenders and/or investors? 3 pts O pts Full No Marks Marks 3 pts Response Response Two (2) response to your groups postings 4 pts O pts Full No Marks Marks 4 pts Total Points: 15 12 Months Ended Sep. 26, 2020 Sep. 28, 2019 Sep. 29, 2018 $ 274,515 $ 260,174 $ 265,595 169,559 161,782 163,756 104,956 98,392 101,839 18,752 19,916 38,668 66,288 803 16,217 18,245 34,462 63,930 1,807 14,236 16,705 30,941 70,898 2,005 67,091 65,737 72,903 CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions Net sales Cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income (expense), net Income before provision for income taxes Provision for income taxes Net income Earnings per share: Basic (in dollars per share) Diluted (in dollars per share) Shares used in computing earnings per share: Basic (in shares) Diluted (in shares) Products Net sales Cost of sales Services Net sales Cost of sales 9,680 $ 57,411 10,481 $ 55,256 13,372 $ 59,531 $ 3.31 $ 3.28 $ 2.99 $ 2.97 $ 3.00 $ 2.98 17,352,119 17,528,214 18,471,336 18,595,651 19,821,510 20,000,435 $ 220,747 151.286 $213.883 144.996 $ 225,847 148,164 53,768 $ 18,273 46,291 $ 16,786 39,748 $ 15,592 Sep. 26, 2020 Sep. 28, 2019 $ 38,016 52.927 16,120 4,061 21,325 11.264 143,713 $ 48,844 51,713 22.926 4,106 22,878 12,352 162.819 100,887 36,766 42.522 180.175 323,888 105,341 37,378 32.978 175.697 338,516 CONSOLIDATED BALANCE SHEETS - USD ($) Sin Millions Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized: 16,976,763 and 17.772,945 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/loss) Total shareholders' equity Total liabilities and shareholders' equity 42,296 42,684 6.643 4,996 8.773 105.392 46,236 37,720 5,522 5,980 10,260 105.718 98,667 54.490 153,157 258,549 91,807 50,503 142,310 248,028 50,779 45,174 14.966 45,898 (406) (584) 65.339 $ 323,888 90.488 $ 338,516
