Net sales: Products Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Services Total net sales Cost of sales: Products Services Total cost of sales Gross margin Operating expenses: Years ended September 25, 2021 September 26, 2020 September 28, 2019 $ 297,392 $ 68,425 365,817 220,747 $ 53,768 213,883 46,291 274,515 260,174 192,266 151,286 144,996 20,715 18,273 16,786 212,981 169,559 161,782 152,836 104,956 98,392 Research and development 21,914 18,752 16,217 Selling, general and administrative 21,973 19,916 18,245 Total operating expenses 43,887 38,668 34,462 Operating income 108,949 66,288 63,930 Other income/(expense), net 258 803 1,807 Income before provision for income taxes 109,207 67,091 65,737 Provision for income taxes 14,527 9,680 10,481 Net income $ 94,680 $ 57,411 $ 55,256 Earnings per share: Basic Diluted Shares used in computing eamings per share: Basic Diluted $ $ 5.67 $ 5.61 $ 3.31 $ 2.99 3.28 $ 2.97 16,701,272 16,864,919 17,352,119 17,528,214 18,471,336 18,595,651 See accompanying Notes to Consolidated Financial Statements. Net income Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) Years ended September 25, 2021 September 26, 2020 September 28, 2019 $ 94,680 $ 57,411 $ 55,256 Other comprehensive income/(loss): Change in foreign currency translation, net of tax 501 88 (408) Change in unrealized gains/losses on derivative instruments, net of tax: Change in fair value of derivative instruments 32 79 (661) Adjustment for net (gains)/losses realized and included in net income 1,003 (1,264) 23 Total change in unrealized gains/losses on derivative instruments 1,035 (1,185) (638) Change in unrealized gains/losses on marketable debt securities, net of tax: Change in fair value of marketable debt securities (694) 1,202 3,802 Adjustment for net (gains)/losses realized and included in net income (273) (63) 25 Total change in unrealized gains/losses on marketable debt securities (967) 1,139 3,827 Total other comprehensive income/(loss) 569 42 2,781 Total comprehensive income $ 95,249 $ 57,453 $ 58,037 See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: ASSETS: September 25, 2021 September 26, 2020 $ 34,940 $ 38,016 27,699 52,927 26,278 16,120 6,580 4,061 25,228 21,325 14,111 11,264 134,836 143,713 127,877 100,887 39,440 36,766 48,849 42,522 216,166 180,175 $ 351,002 $ 323,888 LIABILITIES AND SHAREHOLDERS' EQUITY: $ 54,763 $ 42,296 47,493 42,684 7,612 6,643 6,000 4,996 9,613 8,773 125,481 105,392 109,106 98,667 53,325 54,490 162,431 153,157 287,912 258,549 Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,426,786 and 16,976,763 shares issued and outstanding, respectively 57,365 50,779 Retained earnings 5,562 14,966 Accumulated other comprehensive income/(loss) 163 (406) Total shareholders' equity Total liabilities and shareholders' equity 63,090 65,339 $ 351,002 $ 323,888 Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except per share amounts) Years ended September 25, 2021 September 26, 2020 September 28, 2019 $ 65,339 $ 90,488 $ 107,147 Total shareholders' equity, beginning balances Common stock and additional paid-in capital: Beginning balances 50,779 45,174 40,201 Common stock issued 1,105 880 781 Common stock withheld related to net share settlement of equity awards (2,627) (2,250) (2,002) Share-based compensation 8,108 6,975 6,194 Ending balances 57,365 50,779 45,174 Retained earnings: Beginning balances 14,966 45,898 70,400 Net income 94,680 57,411 55,256 Dividends and dividend equivalents declared (14,431) (14,087) (14,129) Common stock withheld related to net share settlement of equity awards (4,151) (1,604) (1,029) Common stock repurchased (85,502) (72.516) (67,101) Cumulative effects of changes in accounting principles (136) 2,501 Ending balances 5,562 14,966 45,898 Accumulated other comprehensive income/(loss): Beginning balances Other comprehensive income/(loss) Cumulative effects of changes in accounting principles (406) (584) (3,454) 569 42 2,781 136 89 Ending balances 163 (406) (584) Total shareholders' equity, ending balances $ 63,090 $ 65,339 $ 90,488 Dividends and dividend equivalents declared per share or RSU $ 0.85 $ 0.795 $ 0.75 See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Years ended September 25, 2021 September 26, 2020 September 28, 2019 Cash, cash equivalents and restricted cash, beginning balances $ 39,789 $ 50,224 $ 25,913 Operating activities: Net income 94,680 57,411 55,256 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 11,284 11,056 12,547 Share-based compensation expense 7,906 6,829 6,068 Deferred income tax benefit (1,774) (215) (310) Other (147) (97) (652) Changes in operating assets and liabilities: Accounts receivable, net Inventories (10,125) 6,917 245 (2,642) (127) (289) Vendor non-trade receivables (3,903) 1,553 2,931 Other current and non-current assets (8,042) (9,588) 873 Accounts payable 12,326 (4,062) (1,923) Deferred revenue 1,676 2,081 (625) Other current and non current liabilitics 5,799 8,916 (4,700) 104,038 80,674 69,391 Cash generated by operating activities Investing activities: Purchases of marketable securities (109,558) (114,938) (39,630) Proceeds from maturities of marketable securities 59,023 69,918 40,102 Proceeds from sales of marketable securities 47,460 50,473 56,988 Payments for acquisition of property, plant and equipment (11,085) (7,309) (10,495) Payments made in connection with business acquisitions, net (33) (1,524) (624) Purchases of non-marketable securities (131) (210) (1,001) Proceeds from non-marketable securities 387 92 1,634 Other Cash generated by/(used in) investing activities (608) (14,545) (791) (1,078) (4,289) 45,896 Financing activities: Proceeds from issuance of common stock 1,105 880 781 Payments for taxes related to net share settlement of equity awards (6,556) (3,634) (2,817) Payments for dividends and dividend equivalents (14,467) (14,081) (14,119) Repurchases of common stock (85,971) (72,358) (66,897) Proceeds from issuance of term debt, net 20,393 16,091 6,963 Repayments of term debt (8,750) (12,629) (8,805) Proceeds from/(Repayments of) commercial paper, net 1,022 (963) (5,977) Other (129) (126) (105) Cash used in financing activities (93,353) (86,820) (90,976) Increase/(Decrease) in cash, cash equivalents and restricted cash (3,860) (10,435) 24,311 Cash, cash equivalents and restricted cash, ending balances $ 35.929 $ 39,789 $ 50,224 Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest $ 25,385 $ 9,501 $ 15,263 $ 2,687 $ 3,002 $ 3,423 Company Name Student Name From the most recent year presented in the financials, answer the following questions. Round the Decimal Figure on Your 1. What is the company's working capital? 2. What is the company's current ratio? 3. What is the company's acid test (quick) ratio? 4. What is the company's total accounts receivable turnover ratio? 5. What is the company's Average Collection period? 6. What is the company's inventory turnover ratio? 7. 8. What is the company's Average Number of Days to Sell Inventory? What is the company's profit margin ratio? 9. What is the company's return on assets ratio? 10. What is the company's return on common stockholders' equity ratio? 11. What is the company's debt-to-equity ratio? 12. What is the company's times interest earned ratio? Dollar Amount or Number Calculator to this Number of Decimal Places 0 2 2 2 2 2 2 2 2 2 2 2