Hey! Not sure how to do this one. Will someone please help?
APPLI September 24, 2016 S 104.714 Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 30, 2017 ASSETS Current assets Cash and cash equivalents 20.289 Short-term marketable securities 53,892 Accounts receivable, less allowances of $58 and $53, respectively 17,874 Inventories 4.855 Vendor non-trade receivables 17,799 Other current assets or 13.936 To 120 CE Total current assets 128,645 Long-term marketable securities Property, plant and equipment, net 33,783 Goodwill 5,717 Acquired intangible assets, net 2.298 Other non-current assets 10,162 Total assets 375.319 20,484 46,671 15,754 2,132 13,545 8,283 10 OC 106,869 170430 170,430 27,010 5,414 3,206 8,757 321,686 us LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable S Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities Deferred revenue, non-current Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies Shareholders' cquity Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized: 5,126,201 and 5,336,166 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and sharcholders' cquity S 49,049 25,744 7.548 11,977 6,406 6.496 100,814 2,836 97.207 40,415 241.272 37,294 22,027 8,080 8,105 3,500 79,006 2,930 75,427 36,074 193,437 35.867 98,330 (150) 134,047 375,319 31,251 96,364 634 128,249 321,686 S See accompanying Notes to Consolidated Financial Statements APPLE September 26, 2015 233.715 140,089 93,626 Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 30, 2017 September 24, 2016 Net sales $ 229.234 215,639 Cost of sales 141,048 131,376 Gross margin 88,186 84,263 Operating expenses Research and development 11,581 10,045 Selling, general and administrative 15,261 14,194 Total operating expenses 26,842 24,239 Operating income 61,344 60,024 Other income (expense), net 2,745 1,348 Income before provision for income taxes 64,089 61,372 Provision for income taxes 15,738 15,685 Net income 48,351 45,687 8,067 14,329 22,396 71,230 1,285 72,515 19,121 53,394 $ $ 9.27 9.21 $ S 8.35 8.31 $ $ 9.28 9.22 Earnings per share: Basic Diluted Shures used in computing earnings per share: Basic Diluted Cash dividends declared per share 5,217,242 5,251,692 2.40 5,470.820 5,500,281 2.18 5.753,421 5,793,069 1.98 $ S $ See accompanying Notes to Consolidated Financial Statements. O Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Years ended September 30, 2017 September 24, 2016 September 26, 2015 Net income $ 48,351 $ 45,687 $ 53,394 Other comprehensive income (loss): Change in foreign currency translation, net of tax effects of $(77), $8 and $201, respectively 224 75 (411) Change in unrealized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit (expense) of $(478), S(7) and $(441), respectively 1,315 2,905 Adjustment for net (gains) losses realized and included in net income, net of tax expense (beneft) of $475, $131 and $6.30, respectively (1,477) (3,497) Total change in unrealized gains/lusses on derivative instruments, net of tax (162) (734) (592) Change in unrealized gains/losses on marketable securities: 7 Check my work Review Apple's financial statements in Appendix A and identify its (a) total assets as of September 30, 2017, and September 24, 2016, and (b) operating income for the year ended September 30, 2017. Required 1. Assume Apple's target income is 12% of average assets. Compute Apple's residual income for fiscal 2017 using operating income. 2. Compute Apple's return on investment (in percent) for fiscal 2017 using operating income. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume Apple's target income is 12% of average assets. Compute Apple's residual income for fiscal 2017 using operating income. Apple's residual income Check my work Review Apple's financial statements in Appendix A and identify its (a) total assets as of September 30, 2017, and September 24, 2016, and (b) operating income for the year ended September 30, 2017. Required 1. Assume Apple's target income is 12% of average assets. Compute Apple's residual income for fiscal 2017 using operating income. 2. Compute Apple's return on investment (in percent) for fiscal 2017 using operating income. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute Apple's return on investment (in percent) for fiscal 2017 using operating income. (Round your answers to 2 decimal places.) Apple's return on investment (in percent) %
