For this questions please use the annual report of Apple's company.

Does your corporation have Bonds Payable on its Balance Sheet? If it does, please indicate the amount. Is there any amount for Bonds Payable listed under Current Liabilities? If so, please indicate the amount and let us know under what circumstances Bonds Payable would be current obligations. Corporations can raise money by issuing stock or issuing debt (bonds). What are some advantages of issuing common stock instead of issuing long-term debt? What are some disadvantages?

Part 2

Please explain the meaning of the terms convertible and callable as they relate to bond issues.