need help with required 1-3 and appendix A is at the bottom

AA 13-1 Company Analysis LO A1, P1, P2 Use Apple's financial statements in Argendix. A to answer the following Required: 1. Using fiscal 2015 as the base year, compute trend percents for fiscal years 2015, 2016, and 2017 for net sales, cost of sales operating income, other income (expense) net, provision for income taxes, and net income. 2. Compute common size percents for fiscal years 2016 and 2017 for the following categories of assets: (a) total current assets. (D) property, plant and equipment, net; and (c) goodwill plus acquired intangible assets, net 3. Using current assets as a percent of total assets to measure liquidity, did Apple's asset makeup become more liquid or less liquid in 2017 Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Using fiscal 2015 as the base year, compute trend percents for fiscal years 2015, 2016, and 2017 for net sales, cost of sales operating income other incom net, provision for income taxes, and net income. (Input all the values as positive numbers. Enter your answers in millions. Round your percentage answers place. Check my work Required 1 Required 2 Required 3 Using fiscal 2015 as the base year, compute trend percents for fiscal years 2015, 2016, and 2017 for net sales, cost of sales, operating income, other incom net, provision for Income taxes, and net income. (Input all the values as positive numbers. Enter your answers in millions, Round your percentage answers place.) Fiscal 2017 Fincal 2016 Fiscal 2015 % % % % % % Net Sales Cost of sales Operating income Other income (expense) Income taxes provision for income taxen) Net Income % $ X % % Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute common-size percents for fiscal years 2016 and 2017 for the following categories of assets: (a) total current assets- (b) property, plant and equipment, net; and (c) goodwill plus acquired intangible assets, net. (Enter your answers in millions. Round your percentage answers to 1 decimal place.) Sep. 24, 2016 Sep 30, 2017 % % Total current assets Property, plant and equipment, net Goodwill and other intangible assets % % % % Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using current assets as a percent of total assets to measure liquidity, did Apple's asset makeup become more liquid or less liquid in 2017? Apple's asset makeup become in 2017 A 375,319 321,686 Total assets LIABILITIES AND SHAREHOLDERS' EQUITY $ 37.294 49,049 25.744 22.027 Current liabilitics Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities 7,548 8,080 8,105 11.977 6,496 3,500 100,814 79,006 2,836 2930 Deferred revenue, non-current 97,207 75.427 Long-term debt Other non-current liabilities 40.415 36,074 241,272 Total liabilities 193.437 Commitments and contingencies 35,867 31.251 Shareholders cquity Common stock and additional paid-in capital, 50.00001 par value: 12,600,000 shares authorized: 5,126,201 and 5.336,166 shares issued and outstanding, respectively Retained carnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and sharcholders' equity 98,330 96,364 634 (150) 134.047 128,249 321,686 375,319 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 Earnings per share Basic Diluted Shares used in computing earnings per share: Basic 9.27 8135 9.28 921 8.31 S. 9.22 5.217.242 5.470,820 Diluted Cash dividends declared per share 5.753.421 5.793,069 5.251.692 2.40 $ 5.500,281 2.18 S S 1.98 See accompanying Notes to Consolidated Financial Statements Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME In millions) Years ended Net Income September 30, 2017 48,351 September 24, 2016 S 45.687 September 26, 2015 $3.394 Other comprehensive income tloss); Change in foreign currency translation, net of tax effects of $6771. 58 and 201. respectively Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) Years ended September 30, 2017 September 24, 2016 September 26, 2015 Net income 48,351 S 45,687 S 53.394 Other comprehensive income (loss): Change in foreign currency translation, net of tax effects of $(77). S8 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 5(478), SCT) and S(441), respectively 1.315 7 2.905 Adjustment for net (gains) losses realized and included in net income, net of tax expense (benefit) of $475, 5131 and 5630, respectively (1,477) (741) (3.497) Total change in unrealized gains/losses on derivative instruments, net of tax (162) (734) (592) Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit (expense) of $425, 5(863) and $264, respectively (782) 1.582 (483) Adjustment for net (gains) losses realized and included in net income. net of tax expense (benefit of $35, $(31), and (32), respectively (64) 56 59 Total change in unrealized gins/losses on marketable securities, net of tax (846) 1.638 (424) Total other comprehensive income (loss) (784) 979 (1.427) Total comprehensive income 47,567 46,666 51.967 S Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except number of shares which are reflected in thousands) Accumulated Other Common Stock and Comprehensive Total Additional Paid-In Capital Retained Income Shareholders' Shares Amount Earnings Loss) Equity Balances as of September 27, 2014 5,866,161 $ 23.313 $ 87.152 $ 1,082 5 111,547 Net income 53,394 53,394 Other comprehensive income (los) (1.427) (1.427) Dividends and dividend equivalents declared (11.627) (11,627) Repurchase of common stock (325,032) (36,026) (36,026) Share-based compensation 3,586 3,586 Common stock issued, net of shares withheld for employee taxes 37.624 (231) (609) (840) Tax benefit from equity awards, including transfer pricing adjustments 748 748 Balances as of September 26, 2015 5,578,753 $ 27,416 $ 92,284 $ (345) S 119,355 Net income 45,687 45,687 Other comprehensive income (loss) 979 979 Dividends and dividend equivalents declared (12,188) (12.188) Repurchase of common stock (279,609) (29.000) (29.000) Share-based compensation 4,262 4,262 Common stock issued, net of shares withheld for employee taxes 37,022 (806) (419) (1,225) Tax benefit from equity awards, including transfer pricing adjustments 379 379 Balances as of September 24, 2016 5.336,166 s 31.251s 96.166 $ 634 S 128. 249 Net income 48351 48,351 Other comprehensive income (low (784) (784) Dividends and dividend equivalent declared (12.803) (12.803) Repurchase of common stock (246,496) (33,001) 3,000 Share-based compensation 4,909 4.909 Common stock issued, net of shares withheld for employee taxes 136.531 (913) (581) (1494) Tevben in TI! TI (279,609) (29,000) (29,000) 4,262 4,262 Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld for employee taxes Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 24, 2016 11 37,022 (806) (419) (1,225) 379 379 5,336,166 $ 31,251 $ 634 $ 128,249 96,364 $ 48,351 Net income 48,351 (784) (12,803) Other comprehensive income (loss) Dividends and dividend equivalents declared Repurchase of common stock Share-based compensation Common stock issued, net of shares withheld (784) (12,803) (33,001) (246,496) (33,001) 4,909 4,909 36,531 (913) (581) 1.494) for employee taxes Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 30, 2017 620 620 5.126.2015 35,867 98,330 $ (150) S 134,047 September 26, 2015 13,844 53.394 11,257 3,586 1.382 385 417 Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years ended September 30, 2017 September 24, 2016 Cash and cash equivalents, beginning of the year 20,484 $ 21,120 Operating activities: Net income 48,351 45,687 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 10,157 10,505 Share-based compensation expense 4,840 4,210 Deferred income tax expense 5.966 4,938 Other (166) 486 Changes in operating assets and linbilities: Accounts receivable, net (2,093) 527 Inventories (2.723) 217 Vendor non-trade receivables (4.254) (51) Other current and non-current assets (5,318) 1,055 Accounts payable 9,618 1,837 Deferred revenue (626) 1.554) Other current and non-current liabilities (154) (2,033) Cash generated by operating activities 63.598 65,824 Investing activities Purchases of marketable securities (159.486) (142.428) Proceeds from maturities of marketable securities 31.775 21,258 Proceeds from sales of marketable securities 94.564 90,536 Payments made in connection with business acquisitions.net 1329) (297) Payments for acquisition of property, plant and equipment (12.451) (12.734) Payments for acquisition of intangible assets (344) (814) Payments for strategic investments, net (395) 0.389 Other 220 (102 Cash used in investing activities (16.416) (45.977) Financing activities Proceeds from issuance of common stock 555 495 Excess tax benefits from equity awards 627 407 Payments for taxes related to net share settlement of it awards 1:87 1.5703 (238) (3.735) (283) 5.001 1,042 9.058 81.266 (166,402) 14,538 107,447 (343) (11.247) (241) (26) 56.274) 543 749 71.4990 63,598 65,824 81,266 (142,428) (166,402 (159,486) 31.775 14,538 Cash generated by operating activities Investing activities Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payments for acquisition of property, plant and equipment Payments for acquisition of intangible assets Payments for strategic investments, net 94,564 (329) (12,451) 21,258 90,536 (297) (12,734) (814) (1,388) (110) (45,977) 107,447 (343) (11,247) (241) (344) (395) Other 220 (26) (56,274) (46,446) Cash used in investing activities Financing activities: Proceeds from issuance of common stock 555 495 543 627 407 749 (1,874) (1.499) (1,570) (12,150) (29,722) (11,561) (35,253) 27.114 24,954 Excess tax benefits from equity awards Payments for taxes related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, niet Cash used in financing activities Increase (decrease) in cash and cash equivalents Cash and cash equivalents, end of the year (2,500) (12,769) (32.900) 28,662 (3,500) 3,852 (17.347) (195) 20,289 (397) (20,483) (636) 20.484 2.191 (17.716) 7.276 21.120 5 Supplemental cash flow disclosure Cash paid for income taxes, net Cash paid for interest 11.591 s 10.444 S 13.252 2,092 S 1,316 5 514 Fourth quarter Third quarter s other than quoted prices in ac- Esets and liabilities, quoted prices ets or liabilities in inactive mar- re observable or can be corrobo- et data for substantially the full ties. nerally unobservable and typically enate of assumptions that market ricing the asset or liability. 2017 2016 Dividends Amount Dividends Amount Per Share (in millions) Per Share (in millions) $ 0.63 $ 3,252 $ 0.57 5 3,071 0.63 3,281 0.57 3,117 Second quarter 0.57 2,988 0.52 2,879 0.57 3,042 0.52 2,898 Total cash dividends declared and paid $ 2.40 $ 12,563 $ 2.18 5 11,965 First quarter Segment Information and Geographic Data 2017 Net sales by product (mil.) iPhone 2016 2015 $141,319 $155.041 iPad $136,700 20,628 19.222 23.227 Mac 25.850 22,831 25.471 Services 29.980 24,348 19,909 techniques used to measure the Eet funds and certain marketable ived from quoted prices in active ets or liabilities. The valuation ce the fair value of the Company's other financial instruments, all of es with high credit ratings, were market prices or model-driven val- inputs derived from or corrobo- et data. he fair value accounting require- oose to measure eligible financial other items at fair value. The the fair value option for any eli- Other Products 12.863 11.132 10,067 Total net sales $229,234 $215.639 $233.715 2017 2016 2015 596.600 $86,613 $ 93.864 5302684 528,172 $ 31,186 Reportable segment (mil.) Americas Net sales Operating income Europe: Net sales Operating income Greater China: Indemnification 351938 $49.952 S 50,337 S16,514 $15.348 $ 16,527 vs changes in the Company's ac- ated costs for 2017 and 2016: 544.764 $48.492 S 58,715 2017 2016 $17.032 S18,835 S 23.002 Net sales Operating income Japan: : Net sales and related costs S3702 57,780 (4.663) $17.733 $ 16,928 5 15,706 4,322) 4.154 3.585 5 7.165 ty S 8.097 S7617 Operating income Other TODOCUS 12805 1524 10.00% $233.715 Total net sales $229,234 $215,639 Reportable segment (n.) 2017 2016 2015 Americas: $ 86,613 $ 93,864 nued based on quoted market prices or model-driven val- ions using significant inputs derived from or corrobo- ed by observable market data. In accordance with the fair value accounting require- ents, companies may choose to measure eligible financial struments and certain other items at fair value. The empany has not elected the fair value option for any eli- le financial instruments ccrued Warranty and Indemnification he following table shows changes in the Company's ac- mied warranties and related costs for 2017 and 2016: S96,600 $30,684 S28,172 $ 31,186 $54,938 $49.952 $ 50,337 $ 16,527 $16,514 $15.348 $48,492 Net sales Operating income Europe: Net sales Operating income Greater China: Net sales Operating income Japan: Net sales Operating income Rest of Asia Pacific Net alex Operating income $44,764 $17,032 S 58,715 $ 23,00 millions 2017 2016 $18,835 $ 4,780 eginning accrued warranty and related costs $ 3,702 cost of warranty claims (4.322) ccruals for product warranty 4.454 Ending accrued warranty and related costs $ 3,834 (4,663) 3,585 $17.733 $ 8,097 $ 16,928 $ 7,165 $ 15,706 $ 7.617 $ 3,702 $ 13,654 SI5.199 $ $ 304 $ 15,093 S 3,518 S 4.781 erm Debt A reconciliation of the Company's segment operating in- come to the Consolidated Statements of Operations for 2017. 2016 and 2015 is as follows: 2017 2016 2015 as of September 30, 2017, the Company had outstanding loating and fixed-rate notes with varying maturities for an ggregate principal amount of $104.0 billion (collectively the "Notes"). The Notes are senior unsecured obligations, and interest is payable in arrears. The Company recognized $2.2 billion, $1.4 billion and 5722 million of interest expense on its term debt for 2017 2016 and 2015. respectively As of September 30, 2017 and September 24, 2016, the Fair value of the Company's Notes, based on Level 2 inputs, was $106.1 billion and $81.7 billion, respectively $ 27,63) $ 74301 $83,850 $ millions Segment operating income Research and development expend Other companite expenses, ne Total operating income 15811 (4.1706) 562 K1004) (292) 18.007 4.553 5601024 $70 2:10