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i attached the appendix A for apple. please look at the statements and answer the required questions. required 1, 3, and 4 please Use Apple's
i attached the "appendix A" for apple. please look at the statements and answer the required questions. required 1, 3, and 4 please
Use Apple's financial statements in Appendix A to answer the following. Required: 1. Compute Apple's profit margin for fiscal years ended (a) September 28, 2019, and (b) September 29,2018. 2. Is Apple's profit margin on a favorable or unfavorable trend? 3. For the fiscal year ended September 28, 2019, what amount is credited to Income Summary to summarize its revenue earned? Hint make sure to consider any "Other income" reported on Apple's income statement. 4. For the fiscal year ended September 28, 2019, what amount is debited to Income Summary to summarize its expense: incurred? Complete this question by entering your answers in the tabs below. Compute Apple's profit margin for fiscal years ended (a) September 28, 2019, and (b) September 29, 2018. (Round your percentage answers to 1 decimal place.) Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) LLABILITIES AND SHAREHOLDERS' EQUITY Apple Inc. RONSOLIDATED STATEMENTS OF COMPREHENSIVE INCNME Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years ended Cash, cash equivalents and restrieted cash, beginning balances Operating activities Net income Adjustments to reconcile net income to cash generated by operating activities: Deprociation and amortization Share-based compensation expense Deferred income tax expense (benefit) Other Changes in operating assets and liabilities: Cuanges in operating assets and tiabilities: Accounts receivable, net Inventories Vendor non-trade receivables Othet current and non-current assets Accounts payable Deferred revenoe Other current and non-current liabilities Cash generated by operating activities Investing activities Required: 1. Compute Apple's profit margin for fiscal years ended (a) September 28, 2019, and (b) September 29,2018. 2. Is Apple's profit margin on a favorable or unfavorable trend? 3. For the fiscal year ended September 28, 2019, what amount is credited to Income Summary to summarize its revenues earn Hint. make sure to consider any "Other income" reported on Apple's income statement. 4. For the fiscal year ended September 28, 2019, what amount is debited to Income Summary to summarize its expenses incu Complete this question by entering your answers in the tabs below. For the fiscal year ended September 28, 2019, what amount is credited to Income Summary to summarize its revenues earned? Required: 1. Compute Apple's profit margin for fiscal years ended (a) September 28, 2019, and (b) September 29, 2018. 2. Is Apple's profit margin on a favorable or unfavorable trend? 3. For the fiscal year ended September 28, 2019, what amount is credited to Income Summary to summarize its revenues earned? Hint make sure to consider any "Other income" reported on Apple's income statement. 4. For the fiscal year ended September 28, 2019, what amount is debited to Income Summary to summarize its expenses incurred? Complete this question by entering your answers in the tabs below. For the fiscal year ended September 28, 2019, what amount is debited to Income Summary to summarize its expenses incurred? incurred Step by Step Solution
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