FIN

320 Module

Hello I need help with my calculations below. The company I am using is Apple Inc. I have already completed the first part to the question, but just need help with the last 2 parts which is listed below. I also included my completed excel sheet for part one.

Ratio Calculation

On each data tab, use formulas to calculate the following financial indicators for each year of data:

Current ratio

Debt/equity ratio

Free

cash flow

Earnings per share

Price/earnings ratio

Return on equity

Net profit margin

3.

Written Responses

Using the Write Submission

area of Blackboard for this

part of the

assignment, respond to the following:

Describe how and why each of the ratios has

changed

over the three year period. For example, did the current ratio increase or decrease? Why?

Describe how three of the ratios you calculated for your company compare to the general industry

Find general industry data by entering your

specific company?s ticker symbol

here

.

If you are

n

o

t familiar

with the Write Submission

feature, see the screen

Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date 09/24/201 6 Currency USD Audit Status Not Qualified Consolidated Yes Scale Thousan ds Cash & cash equivalents 20484000 Short-term marketable securities 46671000 Accounts receivable, gross 15807000 Allowances 53000 Accounts receivable, net 15754000 Components Finished goods 2132000 Inventories 2132000 Deferred tax assets Vendor non-trade receivables 13545000 Other current assets 8283000 Total current assets 1.1E+008 Long-term marketable securities 1.7E+008 Land & buildings 10185000 Machinery, equipment, & internal-use 44543000 Office furniture & equipment Leasehold improvements 6517000 Gross property, plant & equipment 61245000 Accumulated depreciation & amortizat 34235000 Property, plant & equipment, net 27010000 Goodwill 5414000 Acquired intangible assets, net 3206000 Other non-current assets 8757000 Total assets 3.2E+008 Accounts payable 37294000 Accrued warranty & related costs Accrued marketing & selling expenses Accrued taxes Accrued compensation & employee be Deferred margin on component sales Other current liabilities Accrued expenses - Accrued expenses 22027000 Deferred revenue 8080000 Commercial paper 8105000 Current portion of long-term debt 3500000 Total current liabilities 79006000 Deferred revenue - non-current 2930000 Floating & fixed-rate notes 78384000 Total debt 78384000 Unamortized discount -174000 Hedge accounting fair value adjustme 717000 Less: current portion of long-term debt 3500000 Long-term debt 75427000 Deferred tax liabilities 26019000 Other non-current liabilities 10055000 Other non-current liabilities 36074000 Total liabilities 1.9E+008 Common stock 31251000 Retained earnings 96364000 Cumulative foreign currency translatio -578000 Unrecognized gains (losses) on deriva 38000 Unrealized gains (losses) on marketabl 1174000 Accumulated other comprehensive inc 634000 Total shareholders' equity 1.3E+008 References: http://www.mergentonline.com.ezproxy.snhu.edu/companyfinancials.php?compnumber=12161 Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents Short-term marketable securities Accounts receivable, gross Allowances Accounts receivable, net Components Finished goods Inventories Deferred tax assets Vendor non-trade receivables Other current assets Total current assets Long-term marketable securities Land & buildings Machinery, equipment, & internal-use software Office furniture & equipment Leasehold improvements Gross property, plant & equipment Accumulated depreciation & amortization Property, plant & equipment, net Goodwill Acquired intangible assets, net Other non-current assets Total assets Accounts payable Accrued warranty & related costs Accrued marketing & selling expenses Accrued taxes Accrued compensation & employee benefits Deferred margin on component sales Other current liabilities Accrued expenses 09/26/201 5 USD Not Qualified Yes Thousan ds 21120000 20481000 16931000 82000 16849000 2349000 2349000 5546000 13494000 9539000 89378000 1.6E+008 6956000 37038000 5263000 49257000 26786000 22471000 5116000 3893000 5556000 2.9E+008 35490000 - Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities Deferred revenue - non-current Floating & fixed-rate notes Total debt Unamortized discount Hedge accounting fair value adjustments Less: current portion of long-term debt Long-term debt Deferred tax liabilities Other non-current liabilities Other non-current liabilities Total liabilities Common stock Retained earnings Cumulative foreign currency translation Unrecognized gains (losses) on derivative instruments Unrealized gains (losses) on marketable securities Accumulated other comprehensive income (loss) Total shareholders' equity 25181000 8940000 8499000 2500000 80610000 3624000 55701000 55701000 -114000 376000 2500000 53463000 24062000 9365000 33427000 1.7E+008 27416000 92284000 -653000 772000 -464000 -345000 1.2E+008 Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents Short-term marketable securities Accounts receivable, gross Allowances Accounts receivable, net Components Finished goods Inventories Deferred tax assets Vendor non-trade receivables Other current assets Total current assets Long-term marketable securities Land & buildings Machinery, equipment, & internal-use software Office furniture & equipment Leasehold improvements Gross property, plant & equipment Accumulated depreciation & amortization Property, plant & equipment, net Goodwill Acquired intangible assets, net Other non-current assets Total assets Accounts payable Accrued warranty & related costs Accrued marketing & selling expenses Accrued taxes Accrued compensation & employee benefits Deferred margin on component sales Other current liabilities Accrued expenses 09/27/201 4 USD Not Qualified Yes Thousan ds 13844000 11233000 17546000 86000 17460000 471000 1640000 2111000 4318000 9759000 9806000 68531000 1.3E+008 4863000 29639000 4513000 39015000 18391000 20624000 4616000 4142000 3764000 2.3E+008 30196000 4159000 2321000 1209000 1209000 1057000 8498000 18453000 Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities Deferred revenue - non-current Floating & fixed-rate notes Total debt Unamortized discount Hedge accounting fair value adjustments Less: current portion of long-term debt Long-term debt Deferred tax liabilities Other non-current liabilities Other non-current liabilities Total liabilities Common stock Retained earnings Cumulative foreign currency translation Unrecognized gains (losses) on derivative instruments Unrealized gains (losses) on marketable securities Accumulated other comprehensive income (loss) Total shareholders' equity 8491000 6308000 63448000 3031000 28987000 20259000 4567000 24826000 1.2E+008 23313000 87152000 -242000 1364000 -40000 1082000 1.1E+008 Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Net sales Cost of sales Gross margin Research & development expense Selling, general & administrative expense Total operating expenses Operating income (loss) Interest & dividend income Interest expense Other income (expense), net Other income (expenses), net Income (loss) before provision for income taxes Current federal income tax expense (benefit) Deferred federal income tax expense (benefit) Total federal income tax expense (benefit) Current state income tax expense (benefit) Deferred state income tax expense (benefit) Total state income tax expense (benefit) Current foreign income tax expense (benefit) Deferred foreign income tax expense (benefit) Total foreign income tax expense (benefit) Provision for (benefit from) income taxes Net income (loss) Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Net earnings (loss) per common share - basic Net earnings (loss) per common share - diluted Cash dividends declared per common share Number of full time employees Number of part time employees Number of common stockholders Foreign currency translation adjustments 09/24/2016 USD Not Qualified Yes Thousands 215639000 131376000 84263000 10045000 14194000 24239000 60024000 3999000 1456000 -1195000 1348000 61372000 7652000 5043000 12695000 990000 -138000 852000 2105000 33000 2138000 15685000 45687000 5470820 5500281 5336166 8.35 8.31 2.18 116000 25641 75000 09/26/2015 USD Not Qualified Yes Thousands 233715000 140089000 93626000 8067000 14329000 22396000 71230000 2921000 733000 -903000 1285000 72515000 11730000 3408000 15138000 1265000 -220000 1045000 4744000 -1806000 2938000 19121000 53394000 5753421 5793069 5578753 9.28 9.22 1.98 110000 25924 -411000 09/27/2014 USD Not Qualified Yes Thousands 182795000 112258000 70537000 6041000 11993000 18034000 52503000 1795000 384000 -431000 980000 53483000 8624000 3183000 11807000 855000 -178000 677000 2147000 -658000 1489000 13973000 39510000 6085572 6122663 5866161 6.49 6.45 1.82 92600 4400 26112 - Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Net sales Cost of sales Gross margin Research & development expense Selling, general & administrative expense Total operating expenses Operating income (loss) Interest & dividend income Interest expense Other income (expense), net Other income (expenses), net Income (loss) before provision for income taxes Current federal income tax expense (benefit) Deferred federal income tax expense (benefit) Total federal income tax expense (benefit) Current state income tax expense (benefit) Deferred state income tax expense (benefit) Total state income tax expense (benefit) Current foreign income tax expense (benefit) Deferred foreign income tax expense (benefit) Total foreign income tax expense (benefit) Provision for (benefit from) income taxes Net income (loss) Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Net earnings (loss) per common share - basic Net earnings (loss) per common share - diluted Cash dividends declared per common share Number of full time employees Number of part time employees Number of common stockholders Foreign currency translation adjustments 09/26/2015 USD Not Qualified Yes Thousands 233715000 140089000 93626000 8067000 14329000 22396000 71230000 2921000 733000 -903000 1285000 72515000 11730000 3408000 15138000 1265000 -220000 1045000 4744000 -1806000 2938000 19121000 53394000 5753421 5793069 5578753 9.28 9.22 1.98 110000 25924 -411000 References: http://www.mergentonline.com.ezproxy.snhu.edu/companyfinancials.php?compnumber=12161 Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Net sales Cost of sales Gross margin Research & development expense Selling, general & administrative expense Total operating expenses Operating income (loss) Interest & dividend income Interest expense Other income (expense), net Other income (expenses), net Income (loss) before provision for income taxes Current federal income tax expense (benefit) Deferred federal income tax expense (benefit) Total federal income tax expense (benefit) Current state income tax expense (benefit) Deferred state income tax expense (benefit) Total state income tax expense (benefit) Current foreign income tax expense (benefit) Deferred foreign income tax expense (benefit) Total foreign income tax expense (benefit) Provision for (benefit from) income taxes Net income (loss) Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Net earnings (loss) per common share - basic Net earnings (loss) per common share - diluted Cash dividends declared per common share Number of full time employees Number of part time employees Number of common stockholders Foreign currency translation adjustments 09/27/2014 USD Not Qualified Yes Thousands 182795000 112258000 70537000 6041000 11993000 18034000 52503000 1795000 384000 -431000 980000 53483000 8624000 3183000 11807000 855000 -178000 677000 2147000 -658000 1489000 13973000 39510000 6085572 6122663 5866161 6.49 6.45 1.82 92600 4400 26112 - Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Cash Flow Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents, beginning of the year Net income (loss) Depreciation & amortization Share-based compensation expense Deferred income tax expense (benefit) Accounts receivable, net Inventories Vendor non-trade receivables Other current & non-current assets Accounts payable Deferred revenue Other current & non-current liabilities Net cash flows from operating activities Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payment for acquisition of property, plant & equipment Payment for acquisition of intangible assets Payments for strategic investments Other cash flow from investing activities Net cash flows from investing activities Proceeds from issuance of common stock Excess tax benefits from equity awards Payments for taxes related to net share settlement of equity a Payments for dividends & dividend equivalent paid Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Net cash flows from financing activities Increase (decrease) in cash & cash equivalents Cash & cash equivalents, end of the year Cash paid (received) for income taxes, net Cash paid during the year for interest 09/24/2016 USD Not Qualified Yes Thousands 21120000 45687000 10505000 4210000 4938000 1095000 217000 -51000 1090000 1791000 -1554000 -2104000 65824000 -142428000 21258000 90536000 -297000 -12734000 -814000 -1388000 -110000 -45977000 495000 407000 -1570000 -12150000 -29722000 24954000 -2500000 -397000 -20483000 -636000 20484000 10444000 1316000 Refrences: http://www.mergentonline.com.ezproxy.snhu.edu/company tonline.com.ezproxy.snhu.edu/companyfinancials.php?compnumber=12161 Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Cash Flow Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents, beginning of the year Net income (loss) Depreciation & amortization Share-based compensation expense Deferred income tax expense (benefit) Accounts receivable, net Inventories Vendor non-trade receivables Other current & non-current assets Accounts payable Deferred revenue Other current & non-current liabilities Net cash flows from operating activities Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payment for acquisition of property, plant & equipment Payment for acquisition of intangible assets Payments for strategic investments Other cash flow from investing activities Net cash flows from investing activities Proceeds from issuance of common stock Excess tax benefits from equity awards Payments for taxes related to net share settlement of equity awards Payments for dividends & dividend equivalent paid Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Net cash flows from financing activities Increase (decrease) in cash & cash equivalents Cash & cash equivalents, end of the year Cash paid (received) for income taxes, net Cash paid during the year for interest 09/26/2015 USD Not Qualified Yes Thousands 13844000 53394000 11257000 3586000 1382000 611000 -238000 -3735000 -179000 5400000 1042000 8746000 81266000 -166402000 14538000 107447000 -343000 -11247000 -241000 -26000 -56274000 543000 749000 -1499000 -11561000 -35253000 27114000 2191000 -17716000 7276000 21120000 13252000 514000 Apple Inc (NMS: AAPL) Exchange rate used is that of the Year End reported date As Reported Annual Cash Flow Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents, beginning of the year Net income (loss) Depreciation & amortization Share-based compensation expense Deferred income tax expense (benefit) Accounts receivable, net Inventories Vendor non-trade receivables Other current & non-current assets Accounts payable Deferred revenue Other current & non-current liabilities Net cash flows from operating activities Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payment for acquisition of property, plant & equipment Payment for acquisition of intangible assets Payments for strategic investments Other cash flow from investing activities Net cash flows from investing activities Proceeds from issuance of common stock Excess tax benefits from equity awards Payments for taxes related to net share settlement of equity awards Payments for dividends & dividend equivalent paid Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Net cash flows from financing activities Increase (decrease) in cash & cash equivalents Cash & cash equivalents, end of the year Cash paid (received) for income taxes, net Cash paid during the year for interest 09/27/2014 USD Not Qualified Yes Thousands 14259000 39510000 7946000 2863000 2347000 -4232000 -76000 -2220000 167000 5938000 1460000 6010000 59713000 -217128000 18810000 189301000 -3765000 -9571000 -242000 16000 -22579000 730000 739000 -1158000 -11126000 -45000000 11960000 6306000 -37549000 -415000 13844000 10026000 339000 Apple Inc (NMS: AAPL) Issue: Apple Inc(NMS:AAPL) NASDAQ National Market System Time Period: 7 days Frequency: daily Adjusted Prices Historical Pricing Date Open High Low Close Volume 06/02/2017 06/01/2017 05/31/2017 05/30/2017 05/26/2017 05/25/2017 05/24/2017 153.58 153.17 153.97 153.42 154 153.73 153.84 155.45 153.33 154.17 154.43 154.24 154.35 154.17 152.89 152.22 152.38 153.33 153.31 153.03 152.67 155.45 153.18 152.76 153.67 153.61 153.87 153.34 27763608 16400358 24442538 20122405 21911353 19228082 19213371 Rate of Return using open price and closing price Rate of Return using closing price 0.156515 rounded = 0.16 1.376027 rounded =1.38 References: nline.com.ezproxy.snhu.edu/equitypricing.php?pagetype=report&compnumber=12161 Price Move (%) 1.48 0.27 -0.59 0.04 -0.17 0.35 -0.3