Financial statements for APPLE.inc are attached below for the fiscal year of 2017 through 2019. Using the financial statements, you must evaluate the firm. Think as if you are making a recommendation to your friend whether he should buy APPLE's stock. Incorporate anything that we have learned in this class, but you are not required to go any further than what we have covered. You should make an evaluation and provide me with your own thoughts and make projections, not a summary of financial statement. You are responsible to provide me with evidence and back-ups on why you came up with your conclusion/projection. Report should be between 5 to 10 pages, Times New Roman 12 pts, Double spaced. For students who are not too comfortable with English, report could be written in Korean. You may compare compare different years and evaluate how APPLE has performed (financial statements from 2017 to 2019 are attached below). Or you may use a single year's financial statement and look through each accounts, and evaluate/forecast firm performance.

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Apple Support + CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years ended September 28, September 29 September 30, 2019 2018 2017 $ 25,913 $ 20,289 $ 20,484 55,256 59,531 48,351 12.547 6,068 10,903 5,340 (32,590) (444) 10,157 4,840 5,966 (166) (340) (652) Cash, cash equivalents and restricted cash, beginning balances Operating activities: Net income Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense/(benefit) Other Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities 245 (289) 2,931 873 (1,923) (625) (4.700) 69,391 (5,322) 828 (8,010) (423) 9,175 (3) 38,449 77,434 (2,093) (2.723) (4,254) (5,318) 8,966 (TAA 1. 64, (39,630) 40,102 (71,356) 55,881 (159,486) 31,775 IL- Ludily wed Lilleur I hear PHIX :: S1031: SIPHIX NISI ----REX SHIHIH:25, 295, Sir. 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MENIT.IN I-ESHIMIWA Foto 22 REST 10-11 0.244 2,145 A/CIA 13.7 13375 ... LEIUTES AND SHAREHOLDERS' EQUITY: $ 83.827 LIN: 4 NAN Ohraucht 11: Le HARIBISH TATYWY Tumors , IS 105.718 9.71 118.52 SIIHI 14:41 Tome hern WebH Toal. 1: :d 89250 48.514 SI, 63.00 144,210 15,651 1 2:11 Com isson SERE rest: A-ribner: 17 Hirtzi z 11.12.154.171. HS ki, mer; Forge corre pe .....5 kulala NLY Till I ENN. 70.10 32541 14,47 411 $ 21,"IB M. Natomid erkins CONSOLIDATED RALANCE SHEETS il mirc in rosso wh chromofil tennpun SI 2312 * 2018 ABBETS 4,15 61.713 91.91.1 0.36 Laristala Ish-lh.TR Horst ciaork Healna Verskih theraentarsi TORS 99,171 12.30 102,519 2 19.CAT 121.29 10W 27.33 SINTOX ht FO..pe.hu, 1121 I. Tra.- MNT SPAR To:20 17.20 49.204 22,251 17 85.510 $ LEIUTES AND SHAREHOLDERS' EQUITY: rullsh Her learn-ap-northeast-2-prod-fleet01-xythos.s3.ap-northeast-2.amazonaws.com https://lam-ap-northeast-2-prod-fleet-wyth... Bat Homework Help With Chagg Study Cheg.. Netflix Content Take a screenshot on your Mac . Apple Support + CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years ended September 28, September 29 September 30, 2019 2018 2017 $ 25,913 $ 20,289 $ 20,484 55,256 59,531 48,351 12.547 6,068 10,903 5,340 (32,590) (444) 10,157 4,840 5,966 (166) (340) (652) Cash, cash equivalents and restricted cash, beginning balances Operating activities: Net income Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense/(benefit) Other Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities 245 (289) 2,931 873 (1,923) (625) (4.700) 69,391 (5,322) 828 (8,010) (423) 9,175 (3) 38,449 77,434 (2,093) (2.723) (4,254) (5,318) 8,966 (TAA 1. 64, (39,630) 40,102 (71,356) 55,881 (159,486) 31,775