financial analysist chart based on financial staments of Apple inc. in the most recent fiscal year september 29/2018 and the previous year september 30/2017.

Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS On millions) September 29 2029 59 531 2017 ash and cash equivalents, beginning of the year Net income 68.351 Adjustments to reconcile net Income to cash generated by operating aclivides Depreciation and amorization 10.505 10.157 0.903 ,340 Deferred income tax expense/bonelit Changes in operating assets and iabliies: Accounts receivable, net .322) 2.723) (4254) 5318) Other current and non-current assets Accounts payable 2,117 1,554) 9,175 33.400 Other current and non-cument liabilities Cash generated by operating actities Investing actvites (142 428) 21,258 0.536 12.734) (297) (158.486) 1,775 71,356) Purchases of marketable securties Proceeds from maturiies of marketable securtes Proceeds from sales of marketable securies Payments for acquisition of property, plant and equipment Payments made in connection with (13313) business acquisitions (521) 11.871) Other Cash generated bylused in) investing activites Proceeds from issuance of common stock Payments for laxes nelated to net share sotlement of equity awards Payments for dividends and dividend equivalents 1.sTo) 12,150) 28,722) 24.954 2.527) (13,712) (72,738) (12,768) (32.900) 26.662 erm cebi net Proceeds from ssuance of Change in commercial paper, net (87,876) Cash used in financing activisies (195) n cash and cash equivalent Cash and cash equivaients, and of the year 10,417 $ Cash paid for income taxes ne Cash paid for interest 1,316 2.082 3.022 See accompanying Notes to Consoldated Financial Statements Apple Inc. 12018 Form 10-K| 42 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except number of shares which are reflected in thousands and per share amounts) Common Stock and Accumulated Other Additional Paid-in Capital Shares 5,578,753 Total Shareholders Balances as of September 26, 2015 27.416 92,284 $ (345) S 119.355 Net income 45.687 45,687 Other comprehensive income/(loss) Dividends and dividend equivalents deciared at 979 979 (12,188) (29,000) 4.262 $2.18 per share or RSU Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for (12.188) (29,000) (279,609) 4,262 (1,225) employee taxes 37,022 (806) Tax benefit from equity awards, including transfer 379 pricing adjustments 379 31,251 Balances as of September 24, 2016 28,249 48,351 634 96.364 5,336,166 Net income Other comprehensive income/(loss) Dividends and dividend equivalents declared at 48,351 (784) (784) (12.803) (33,001) 4,909 $2.40 per share or RSu Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for (12,803) (33,001) (246,496) 4,909 (913) 620 35,867 (1,494) (581) 36,531 employee taxes Tax benefit from equity awards, including transfer 620 pricing adjustments Balances as of September 30, 2017 (150) (278) (3,026) 134,047 98,330 5,126,201 Cumulative effect of change in accounting 278 59,531 principle Net income Other comprehensive income/(loss) Dividends and dividend equivalents declared at 59,531 (3.026) (13,735 (73,056) 5,443 (13,735) (73,056) $2.72 per share or RSU Repurchase of common stock Share-based compensation (405,549) 5,443 Common stock issued, net of shares withheld for (2,057 107.14 (1.109)(948) 0,201 34,334 4,754,986 S employee taxes (3,454) $ 70,400S lances as of September 29, 2018 See accompanying Notes to Consolidated Financial Statements. Apole Inc. 12018 Form 10-K 41 Apple Inc CONSOLIDATED BALANCE SHEETS In millions, except number of shares which are in thousands and par val Current assets Cash and cash equivalents Marketable securitios Accounts receivable, net 25.913 23.186 17 874 Vendor non-trade receivables Other current assets 7,799 3.936 12.087 131.33 Total current assets Marketable securities Property. plant and equipment, net Other non-current assets 94,714 33,783 18.177 246.674 375 319 22.283 Total non-current assets Total assets 65.725 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilitios: Accounts payable Other current liabilites Deferred revenue Commercial paper Term debt 30.551 7,548 11,977 6,496 100,814 7,543 11,964 8,784 116,866 Total current liablities 2,797 93,735 45,180 141,712 258,578 2.836 97 .207 40.415 140,458 241.272 Deferred revenue Term debt Other non-current liabilitios Total non-current labilities ObTotal liabilites Shareholders' equity Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 40,201 70,400 (3.454) 107,147 365,725 35,867 98.330 4,754,986 and 5,126,201 shares issued and outstanding, respectively (150) 134.047 375,319 Total shareholders equity Total liabilities and shareholders equity See accompanyling Notes to Consollidated Financial Statements Apple Inc. 1 2018 Form 10-K 40 Apple inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Years ended 2016 2017 2018 45,687 48,351 $ 59,531 $ Net income Change in foreign currency translation, net of tax effects of S(1), $(77) and $8, 75 224 (525) Change in unrealized gains osses on derivative instruments Change in fair value of derivatives, net of tax benefit/(expense) of S(149), $(478) Adjustment for net (gainslosses realized and included in net income, net of tax instruments, net of tax 1,315 523 and $(7), respectively (741) (734) (1,477) (162) 382 905 expense/(benefit) of $(104), $475 and $131, respectively Total change in unrealized gainslosses on derivative i Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit (expense) of 1,582 (782) $1,156, $425 and $(863), respectively (3,407) Adjustment for net (gains losses realized and included in net income, net of tax 56 ,638 expense/(benefit) of $21, $35 and $(31), respectively (846) Total change in unrealized gains/losses on marketable securities, net of tax (3,406) (784) 47,567 S 979 46,666 (3,026) 56,505 $ Total c e income See accompanying Notes to Consolidated Financial Statements Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years anded September 30, 2017 September 29, 2018 2016 Net sales Cost of sales 229.234 141,048 88,186 215,639 31,376 84,263 265,595 S 163,756 101,839 Gross margin Operating expenses: 0,045 14.194 24.239 11,581 15.261 26,842 Research and development Selling, general and administrative 14,236 16,705 30,941 Total oporating expenses 60,024 ,348 1,372 61,344 2,745 64,089 15,738 Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income 70,898 2,005 72,903 13,372 59,531$ 15,685 48.351 45.687 Earnings per share 8.35 8.31 9.27 $ 9.21 $ 12.01 $ Basic Diluted 11.91 $ Shares used in computing earnings per share: 5,217,242 5,251,692 5,470,820 5,500,281 4,955,377 5,000,109 Basic Diluted See accompanying Notes to Consolidated Financial Statements Apple Inc. 1 2018 Form 10-K 1 38 FINANCIAL ANALYSIS CHART Name of Assigned Company Apple Balance Sheet date: HORIZONTAL AND VERTICAL ANALYSIS Requirement 1 -compute the following for the most recent fiscal year and the previous year Previous Fiscal Year Most recent Fiscal Year EndingEnding Horizontal Analysis Sales& Profits Percentage change in total net sales (Net revenue) Percentage change in Operating Income (Operating Profit) Percentage change in Net Income (Net Earnings) Common Size Income Statement Gross Profit Percentage Operating Income Percentage Net Income percentage Vertical Analysis Balance Sheet Accounts receivables to total assets Inventories to total assets Long-term debt to total liabilities and stockholder's equity Requirement 2-Ratio analysis for the most recent fiscal year and the previous year Liquidity Analysis Current Ratio Acid-test Ratio Previous Fiscal Year Most recent Fiscal Year Ending.. Inventory turnover Days' sales in inventory Long-Term Solvency Analysis Debt Ratio Profitability Analysis Rate of return on total assets Rate of return on common stockholder's equity of2 Most recent Fiscall Year Previous Fiscal Year Market Strength Analysis Price/Earnings ratio Cash Floww Free cash flow Requirement 3: Competitor Analysis using BIG (Business Insights Global Assigned Company Name of Company Dividend Dividend Yield Asset Turnover (FY) Return on Average Assets (FY) Total Debt to Total Equity (FY) Book Value/Share (FY) P/E Ratio, TTM Assigned Company Note Date Used Stock is Trading today at 52 week high in stock price 52 week low in stock price Requirement 5: Stock price Closing stock price on balance sheet date: Previous Fiscal Year Ending Ending 2of2