Financial Reporting Problem: Apple Inc. CT10.1 The financial statements of Apple Inc. are presented in AppendixA.Thecomplet.. The annual report, including the notes to the financial statements, is available at the company's website. Instructions Refer to Apple's financial statements and answer the following questions about current liabilities. a. What were Apple's total current liabilities at September 29, 2018? What was the increase/decrease in Apple's total current liabilities from the prior year? b. How much were the accounts payable at September 29, 2018? c. What were the components of total current liabilities on September 29, 2018 (other than accounts payable already discussed in (b))? Apple Inc. Consolidated Statements of Operations (in millions, except number of shares which are reflected in thousands and per share amounts) Earnings per share: Shares used in computing earnings per share: BasicDiluted4,955,3775,000,1095,217,2425,251,6925,470,8205,500,281 Apple Inc. Consolidated Statements of Comprehensive Income \begin{tabular}{l} Adjustment \\ \cline { 2 - 4 } for net \\ (gains)/losses \\ realized and \\ included in net \\ income, net of \\ tax \\ expense/(benefit) \\ of $(104),$475 \\ and $131, \\ respectively \\ Total \\ change in \\ unrealized \\ gains/losses on \\ derivative \\ instruments, net \\ of tax \end{tabular} Change in Apple Inc. +1:1,+ LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: AccountspayableOthercurrentliabilitiesDeferredrevenueCommercialpaperTermdebtTotalcurrentliabilities$55,88832,6877,54311,9648,784116,866$44,24230,5517,54811,9776,496100,814 Non-current liabilities: Commitments and contingencies Shareholders' equity: Commonstockandadditionalpaid-40,20135,867 in capital, \$0.00001 par value: 12,600,000 shares authorized; 4,754,986 and 5,126,201 shares issued and outstanding, respectively Retained earnings 70,40098,330 Accumulated other comprehensive (3,454) (150) income/(loss) Total shareholders' equity Total liabilities and 107,147365,725 $375,319134,047 shareholders' equity Apple Inc. Consolidated Statements of Shareholders' Fonitity Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 24, 2016 5,3,36,166 31,251 Other comprehensive income/(loss) (784) (784) Dividends and dividend equivalents declared at $2.40 per share or RSU (12,803) (12,803) Repurchase of common stock (246,496) (33,001) (33,001) Share- based compensation Common stock issued, net of shares withheld for employee taxes 36,531 (913) (581) (1,494) Tax benefit from equity awards, including transfer pricing Balances as of September 30, 2017 5,126,20195,86798,330 (150) 134,047 effect of change in accounting principle Net income Other comprehensive income/(loss) (3,026) (3,026) Dividends and dividend equivalents declared at $2.72 per share or RSU (13,735) (13,735) Repurchase of common stock (405,549) (73,056) (73,056) Share- based compensation 5,443 5,443 Common stock issued, net of shares withheld for employee taxes 34,334 (2,057) Balances as of September 29, 2018 4,754,986 $40,201$70,400 $107,147 See accompanying Notes to Consolidated Financial Statements. Apple Inc. Consolidated Statements of Cash Flows (in millions) Proceeds from sales of marketable securities Payments for acquisition of property, plant and equipment 47,838(13,313)94,564(12,451)90,536(12,734) Payments made in connection with business acquisitions, net \begin{tabular}{clr} (721) & (329) & (297) \\ (1,871) & (521) & (1,388) \\ 353 & 126 & \\ (745) & (124) & (924) \\ \hline \end{tabular} Purchases of non-marketable securities Proceeds from non-marketable securities Other 16,066 (46,446) (45,977) Financing activities: Proceeds from issuance of common stock 669 Payments for taxes related to net share settlement of equity awards (2,527) Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Cash used in financing activities Increase/(Decrease) in cash and cash equivalents Cash and cash equivalents, end of the year Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest $10,417$3,022$11,591$2,092$10,444$1,316