Need help on setting 2c. Im doing the company of Apple inc for financial analysis chart.
Learning Objective: Understand the relationship of Sales and Cost of Goods sold in each year and compare periods to assess performance. Show or calculate gross profit for the current and prior years. In Column 1, use the revenue and expense account names used by the company. Calculate the gross profit as a percentage of net sales (formula given in chart). Indicate at the top if the numbers are in thousands or millions. Important: On the financials that I returned for you, I left notes for many of you as to what accounts you use. If I left such a note, those are the accounts that you must use for this chart and the next. 2c: Ratio Analysis: Vertical Analysis \begin{tabular}{|l|l|l|} \hline Updatetheseaccountnamestomatchyourcompanysstatement & Current Year & Prior Year \\ \hline Net Sales & & \\ \hline Cost of Goods Sold & & \\ \hline GrossProfit(NetSales-CostofGoodsSold) & & \\ \hline GrossProfitPercentage(Grossprofit/NetSales) & & \\ \hline \end{tabular} Which year had the stronger Gross Profit Percentage? Based on what you've learned about the company, why do you think this is the case? Type your response here. There is no one right or wrong answer here and you won't find the answer in your text book. I want to see what you think about the company's performance. Apple Inc. (In millions, except number of shares which are retlectert in OPERATIONS For Gross Profit Calculations, use Net Sales: Products - Cost of Sales Products Apple inc. CONSOLIDATED BALANCE SHEETS (In milions, except number of shares which are reflected in thousands and por value) ASSETS: Current assets: Cash and cash oquivalents Markatable securities Accounts recelvablo, net Imventories Vendor non-trade recelvables Other current assets Total current assets \begin{tabular}{rrr} $23,646 & $ & 3,940 \\ 24,658 & 27,699 \\ 28,184 & 26,278 \\ 4,946 & 6,580 \\ 32,748 & 25,228 \\ 21,223 & 14,111 \\ \hline 135,405 & 134,836 \end{tabular} Non-current assets: Marketabie securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets \begin{tabular}{rr} 120,805 & 127,877 \\ 42,117 & 39,440 \\ 54,428 & 48,849 \\ \hline 217,350 \\ \hline 5 & 216,166 \\ \hline \end{tabular} LABILTES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable Other cumrent liablities Delerred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-curtent liabilities Total non-current fiabilities Total liablities Commitments and contingencies Shareholdors' oquily: Common stock and additional paid-in capital, 50.00001 par value: 50,400,000 shares authorized; 15,943,425 and 16,426,786 shares issued and outstanding, respectively Retained eamings/(Accumulated deficit) Accumulated other comprehensive incomelloss) Total shareholders' equity Total liabilities and sharoholders' equity See acoompanying Notes to Consolidated Financlal Statements. Apple inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except per share amounts) Total shareholders' equity, beginning balances Common stock and additional paid-in capital: Beginning balances Common stock issued Common stock withheld related to net share settlement of equily awards Share-based compensation Ending balances \begin{tabular}{rrr} 57,365 & 50,779 & 45,174 \\ 1,175 & 1,105 & 880 \\ (2,971) & (2,627) & (2,250) \\ 9,280 & 8,108 & 6,975 \\ \hline 64,849 & 57,365 \\ \hline \end{tabular} Retained eamings/(Accumulated deficit): Beginning balances Net income Dividends and dividend equivalents declared Common stock withheld related to net share settiement of equily awards Common stock repurchased Cumulative effect of change in accounting principle Ending balances \begin{tabular}{|r|rr} \hline 5,562 & 14,966 & 45,898 \\ 99,803 & 94,680 & 57,411 \\ (14,793) & (14,431) & (14,087) \\ (3,454) & (4,151) & (1,604) \\ (90,186) & (85,502) & (72,516) \\ - & - & (136) \\ \hline(3,068) & 5,562 & 14,966 \\ \hline & \\ \hline \end{tabular} Accumulated other comprehensive income/(loss): Beginning balancos Other comprehensive income/(loss) Cumulative effect of change in accounting principle Ending balances Total shareholders' equity, ending balances Dividends and dividend equivalents declared per share or ASU See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLDATED STATEMENTS OF CASH FLOWS (in millions) Cash, cash equlvalents and restricted cash, beginning balances Operating activities: Not income Adjustmonts to reconcle net inoome to cash generated by operating activiter: Depreclation and amortization Share-based compensation expense Deferred income tax expenser(benetit) Other Changes in operating assets and linblities: Accounts recolvable, net Inventorios Vendor non-tude recelvables Other current and non-currom assets Accounts paryable Dolerted revenue Other currant and non-current lablilies Cach generated by operating activies \begin{tabular}{rrr} (1,823) & (10,125) & 6,917 \\ 1.484 & (2.642) & (127) \\ (7.520) & (3.909) & 1,553 \\ (6.499) & (8.042) & (9,586) \\ 2.448 & 12.326 & (4,002) \\ 475 & 1.676 & 2,081 \\ 5.632 & 5.799 & 8.916 \\ \hline 122.151 & 104.036 \\ \hline \end{tabular} Imvesting activitios: Purchases of markotable securties Proceeds trom maturties of markotable socirities Proceeds from sabs of markotable securtites Payments for acquisition of property, plant and equipment Payments made in connection with businoss acquisitions, net Other Cash used in imosting actvitien Financing acdivities: Payments for taxes rolased to net share sottomont of equity awards Payments for dividends and dividend equivalonts Fiepurchases of oommon stock Proceeds from issuance of term debt, net Repayments of term dobt Proceeds fromv(Aepaymects of commercial paper, net Oher Cash used in financing activites Decroaso in cash, cash oquivalents and restricted cash Cash, cash equivalents and restricted cash, ending balances Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for indorest
