Question
Find the 2018-2019 financial statements (Balance Sheet, Income Statement) for Apple, Inc from UHV Mergent Online database, Yahoo! Finance, Google Finance, or other financial data
Find the 2018-2019 financial statements (Balance Sheet, Income Statement) for Apple, Inc from UHV Mergent Online database, Yahoo! Finance, Google Finance, or other financial data sources. Each student should choose a different company at your choice.
(1) Conduct a financial ratio analysis of the company.
(1) Estimate the weights of capital (debt, preferred stock, and common stock) for the company.
(2) Estimate the before-tax and after-tax component cost of debt for the firm.
(3) Estimate the component cost of preferred stock (if applicable) for the firm.
(4) Estimate the component cost of common equity using CAPM for the firm.
(5) Compute the firms weighted average cost of capital (WACC). Discuss your findings.
Please show work. I am having lots of trouble.
Breakdown 9/30/2019 9/30/2018 > Assets 338,516,000 365,725,000 Liabilities and stockholders' equity v Liabilities v Current Liabilities Total Revenue 16,240,000 20,748,000 Accounts Payable 46,236,000 55,888,000 Taxes payable Accrued liabilities Deferred revenues 5,522,000 7,543,000 Other Current Liabilities 37,720,000 32,687,000 Total Current Liabilities 105,718,000 116,866,000 v Non-current liabilities Long Term Debt 91,807,000 93,735,000 Deferred taxes liabilities 426,000 Deferred revenues 2,797,000 Other long-term liabilities 20,958,000 11,165,000 Total non-current liabilities 142,310,000 141,712,000 Total Liabilities 248,028,000 258,578,000 v Stockholders' Equity Common Stock 45,174,000 40,201,000 Retained Earnings 45,898,000 70,400,000 Accumulated other comprehe... -584,000 -3,454,000 Total stockholders' equity 90,488,000 107,147,000 Total liabilities and stockhold... 338,516,000 365,725,000 Breakdown TTM 9/30/2019 9/30/2018 Total Revenue 259,034,000 260,174,000 265,595,000 Cost of Revenue 160,871,000 161,782,000 163,756,000 Gross Profit 98,163,000 98,392,000 101,839,000 v Operating Expenses Research Development 15,857,000 16,217,000 14,236,000 Selling General and Administrative 17,883,000 18,245,000 16,705,000 Total Operating Expenses 33,740,000 34,462,000 30,941,000 Operating Income or Loss 64,423,000 63,930,000 70,898,000 Interest Expense 3,634,000 3,576,000 3,240,000 Total Other Income/Expenses Net 76,000 422,000 -441,000 Income Before Tax 66,031,000 65,737,000 72,903,000 Income Tax Expense 10,336,000 10,481,000 13,372,000 Income from Continuing Operations 55,695,000 55,256,000 59,531,000 Net Income 55,695,000 55,256,000 59,531,000 Net Income available to common s... 55,695,000 55,256,000 59,531,000 v Reported EPS Basic 11.97 12.01 Diluted 11.89 11.91 Weighted average shares outst... Basic 4,617,834 4,955,377 Diluted 4,648,913 5,000,109 EBITDA 81,860,000 87,046,000 Breakdown 9/30/2019 9/30/2018 > Assets 338,516,000 365,725,000 Liabilities and stockholders' equity v Liabilities v Current Liabilities Total Revenue 16,240,000 20,748,000 Accounts Payable 46,236,000 55,888,000 Taxes payable Accrued liabilities Deferred revenues 5,522,000 7,543,000 Other Current Liabilities 37,720,000 32,687,000 Total Current Liabilities 105,718,000 116,866,000 v Non-current liabilities Long Term Debt 91,807,000 93,735,000 Deferred taxes liabilities 426,000 Deferred revenues 2,797,000 Other long-term liabilities 20,958,000 11,165,000 Total non-current liabilities 142,310,000 141,712,000 Total Liabilities 248,028,000 258,578,000 v Stockholders' Equity Common Stock 45,174,000 40,201,000 Retained Earnings 45,898,000 70,400,000 Accumulated other comprehe... -584,000 -3,454,000 Total stockholders' equity 90,488,000 107,147,000 Total liabilities and stockhold... 338,516,000 365,725,000 Breakdown TTM 9/30/2019 9/30/2018 Total Revenue 259,034,000 260,174,000 265,595,000 Cost of Revenue 160,871,000 161,782,000 163,756,000 Gross Profit 98,163,000 98,392,000 101,839,000 v Operating Expenses Research Development 15,857,000 16,217,000 14,236,000 Selling General and Administrative 17,883,000 18,245,000 16,705,000 Total Operating Expenses 33,740,000 34,462,000 30,941,000 Operating Income or Loss 64,423,000 63,930,000 70,898,000 Interest Expense 3,634,000 3,576,000 3,240,000 Total Other Income/Expenses Net 76,000 422,000 -441,000 Income Before Tax 66,031,000 65,737,000 72,903,000 Income Tax Expense 10,336,000 10,481,000 13,372,000 Income from Continuing Operations 55,695,000 55,256,000 59,531,000 Net Income 55,695,000 55,256,000 59,531,000 Net Income available to common s... 55,695,000 55,256,000 59,531,000 v Reported EPS Basic 11.97 12.01 Diluted 11.89 11.91 Weighted average shares outst... Basic 4,617,834 4,955,377 Diluted 4,648,913 5,000,109 EBITDA 81,860,000 87,046,000
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