In the textbook, the annual report of Apple is in Appendix A. Determine the companys current liabilities at September 29, 2012, and September 28, 2013.

Were current liabilities higher or lower than current assets in these two years?

How do you think the company did in these two years, please explain?

Years ended September 28, September 29, 2013 2012 $37.037 $41,733 September 24, 2011 Net income .......... $25.922 (112) 522 (131) 92 (458) (399) (530) 450 542 Other comprehensive income/(loss): Change in foreign currency translation, net of tax effects of $35, $13 and $18, respectively Change in unrecognized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(351), $73 and $(50), respectively .................................................. Adjustment for net losses/(gains) realized and included in net income, net of tax expense/(benefit) of $255, $220 and $(250), respectively ........... Total change in unrecognized gains/losses on derivative instruments, net of tax .... Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit/expense) of $458, $(421) and $17, respectively Adjustment for net losses/(gains) realized and included in net income, net of tax expense/(benefit of $82, $68 and S(40), respectively ...................... Total change in unrealized gains/losses on marketable securities, net of tax Total other comprehensive income/loss) ..... Total comprehensive income ..... 64 (791) 715 (131) (114) (70) (922) 601 (41) (970) 489 $26,411 $36,067 $41,789