PLEASE ANSWER ALL QUESTIONS. WILL GIVE THUMBS UP AND POSITIVE REVIEW. THANK YOU SO MUCH.

Use the information contained in these financial statements and notes to complete this case. All answers should be for the most current year (September 24, 2016) unless asked otherwise. Many companies show amounts in the thousands or millions - please state amounts as shown on the financial statements. Do not add zeros. You do not need to include dollar signs. Selected financial statements of Apple, Inc. follow. CONSOLIDATED STATEMENTS OF OPERATIONS (In milions, except number of shares which are reflected in thousands and per share amounts) Years ended September 24, September 26 September 27 2015 Net sales 215,636 5 233.7153 182,795 Cost of sales 131,378 140.089 112.258 Gross margin Operating expenses Research and development Selling in and administrative Total operating expenses 10,045 14194 8.067 14329 6,041 11.990 TATT 50.024 2009 Operating income Other incom pense.net Income before provision for income taxes Provision for income Not income 71230 125 72515 19121 62372 15.685 13973 Earnings per share Base Diluted 8.35S 8 315 9.20 3 9.223 .49 5.45 Share used in computing earnings per share .05.572 5.470,820 5.500,281 5 753.421 5.793.069 D Cash dividends declared per share 2.18 S 1508 182 1. Balance Sheet Page A-2 (5.5 points) Answer What is the name of the company's Balance Sheet? What does consolidated mean? (Hint: See your glossary.) 2. What is the amount of cash and cash equivalents that the company has? 3. What is the amount of goods the company acquired to resell to customers? What amount is owed to the company from customers? (Net of any allowances is fine.) What is the amount of Current Assets? Why is this subtotal helpful? 6. Is their investment in Property, Plant and Equipment increasing or decreasing? By how much? 7. What is Apple's largest asset? 8. What is the amount of liabilities that are due within one year or operating cycle? What is the amount of total liabilities? 10. Did Retained Earnings increase or decrease from the prior year? 11. How much did Retained Earnings increase or decrease from the prior year? II. Income Statement Page A-3 (3.5 Points) Answer What is the name of the company's Income Statement? What are the total net sales? What is the cost of products sold? What is the gross margin? 5. What is the amount of selling, general and administrative expense? 6. What is the amount of net income for the year? What is the dollar amount that net income has increased or (decreased) from the previous year? III. Consolidated Statements of Shareholders' Equity Page A-4 (4 Points) Examine the Statement of Shareholders' Equity. Describe what this statement presents in your own words. 2. What is the beginning Retained eamings balance for the year ending Sept. 24, 2016? What is the ending Retained earnings balance for the year ending Sept. 24, 2016? 3. State at least two reasons the Retained Earnings balance changed from Sept. 26, 2015 to Sept. 24, 2016. IV. Notes - Pages A-6 through A-9 (7 Points) 1. What is the difference between a calendar year and a fiscal year? Does Apple's fiscal year end on the same date every year? How is their fiscal year end date determined? 2. What factors does Apple use to assess Allowance for Doubtful Accounts? 3. What inventory method is used for inventories? 4. What depreciation method is used for Property, Plant and Equipment? What is the estimated useful life for the following assets? 5. Building 6. Machinery and equipment V. Review Apple's Ratios Analysis for 2016 Page 559-564 (20 Points) 1. Current Ratio (pages 559-560) (2 points) a. What was Apple's Current ratio in 2016 and 2015? b. How does this ratio compare to the industry, Google and Samsung? c. What guideline does the textbook author use to evaluate a company's debtpaying ability? Accounts Receivable Turnover (page 561) (2 points) a. What was Apple's Accounts Receivable Tumover ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? c. If the Accounts Receivable Tumover is generally in the range of 7 to 12, how is Apple doing? 3. Inventory Turnover (page 561) (2 points) a. What was Apple's Inventory turnover ratio for 2016? b. How does this ratio compare the industry, Google and Samsung? Days' Sales Uncollected (Pages 56) (2 points) a. What was Apple's Days' Sales Uncollected ratio for 2016? b. How does this ratio compare to Google and Samsung? c. If the Days' Sales Uncollected is generally in the range of 30 to 45, how is Apple doing? Days' Sales in Inventory (Page 562) (2 points) c. What was Apple's Days' Sales in Inventory ratio for 2016? d. How does this ratio compare the industry, Google and Samsung? 6. Total Asset Turnover (page 561) (2 points) a. What was Apple's Total Asset Turnover ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? 7. Debt-to-Equity (page 562) (2 points) a. What was Apple's Debt-to-Equity ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? e. What does this ratio tell you about Apples' capital structure and risk? 8. Profit Margin (page 563) (2 points) a. What was Apple's Profit Margin ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? b. How does this ratio compare Google, Samsung and Industry? c. If analyst give a range of higher than 20-25 for a stock to be considered overpriced and less than 5-8 for a stock to be considered underpriced, how is Apple doing? 10. Dividend Yield (page 564) (2 points) a. What was Apple's Dividend Yield ratio for 2016? b. How does this ratio compare Google and Samsung? What does this tell you about Apple? Use the information contained in these financial statements and notes to complete this case. All answers should be for the most current year (September 24, 2016) unless asked otherwise. Many companies show amounts in the thousands or millions - please state amounts as shown on the financial statements. Do not add zeros. You do not need to include dollar signs. Selected financial statements of Apple, Inc. follow. CONSOLIDATED STATEMENTS OF OPERATIONS (In milions, except number of shares which are reflected in thousands and per share amounts) Years ended September 24, September 26 September 27 2015 Net sales 215,636 5 233.7153 182,795 Cost of sales 131,378 140.089 112.258 Gross margin Operating expenses Research and development Selling in and administrative Total operating expenses 10,045 14194 8.067 14329 6,041 11.990 TATT 50.024 2009 Operating income Other incom pense.net Income before provision for income taxes Provision for income Not income 71230 125 72515 19121 62372 15.685 13973 Earnings per share Base Diluted 8.35S 8 315 9.20 3 9.223 .49 5.45 Share used in computing earnings per share .05.572 5.470,820 5.500,281 5 753.421 5.793.069 D Cash dividends declared per share 2.18 S 1508 182 1. Balance Sheet Page A-2 (5.5 points) Answer What is the name of the company's Balance Sheet? What does consolidated mean? (Hint: See your glossary.) 2. What is the amount of cash and cash equivalents that the company has? 3. What is the amount of goods the company acquired to resell to customers? What amount is owed to the company from customers? (Net of any allowances is fine.) What is the amount of Current Assets? Why is this subtotal helpful? 6. Is their investment in Property, Plant and Equipment increasing or decreasing? By how much? 7. What is Apple's largest asset? 8. What is the amount of liabilities that are due within one year or operating cycle? What is the amount of total liabilities? 10. Did Retained Earnings increase or decrease from the prior year? 11. How much did Retained Earnings increase or decrease from the prior year? II. Income Statement Page A-3 (3.5 Points) Answer What is the name of the company's Income Statement? What are the total net sales? What is the cost of products sold? What is the gross margin? 5. What is the amount of selling, general and administrative expense? 6. What is the amount of net income for the year? What is the dollar amount that net income has increased or (decreased) from the previous year? III. Consolidated Statements of Shareholders' Equity Page A-4 (4 Points) Examine the Statement of Shareholders' Equity. Describe what this statement presents in your own words. 2. What is the beginning Retained eamings balance for the year ending Sept. 24, 2016? What is the ending Retained earnings balance for the year ending Sept. 24, 2016? 3. State at least two reasons the Retained Earnings balance changed from Sept. 26, 2015 to Sept. 24, 2016. IV. Notes - Pages A-6 through A-9 (7 Points) 1. What is the difference between a calendar year and a fiscal year? Does Apple's fiscal year end on the same date every year? How is their fiscal year end date determined? 2. What factors does Apple use to assess Allowance for Doubtful Accounts? 3. What inventory method is used for inventories? 4. What depreciation method is used for Property, Plant and Equipment? What is the estimated useful life for the following assets? 5. Building 6. Machinery and equipment V. Review Apple's Ratios Analysis for 2016 Page 559-564 (20 Points) 1. Current Ratio (pages 559-560) (2 points) a. What was Apple's Current ratio in 2016 and 2015? b. How does this ratio compare to the industry, Google and Samsung? c. What guideline does the textbook author use to evaluate a company's debtpaying ability? Accounts Receivable Turnover (page 561) (2 points) a. What was Apple's Accounts Receivable Tumover ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? c. If the Accounts Receivable Tumover is generally in the range of 7 to 12, how is Apple doing? 3. Inventory Turnover (page 561) (2 points) a. What was Apple's Inventory turnover ratio for 2016? b. How does this ratio compare the industry, Google and Samsung? Days' Sales Uncollected (Pages 56) (2 points) a. What was Apple's Days' Sales Uncollected ratio for 2016? b. How does this ratio compare to Google and Samsung? c. If the Days' Sales Uncollected is generally in the range of 30 to 45, how is Apple doing? Days' Sales in Inventory (Page 562) (2 points) c. What was Apple's Days' Sales in Inventory ratio for 2016? d. How does this ratio compare the industry, Google and Samsung? 6. Total Asset Turnover (page 561) (2 points) a. What was Apple's Total Asset Turnover ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? 7. Debt-to-Equity (page 562) (2 points) a. What was Apple's Debt-to-Equity ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? e. What does this ratio tell you about Apples' capital structure and risk? 8. Profit Margin (page 563) (2 points) a. What was Apple's Profit Margin ratio for 2016? b. How does this ratio compare to the industry, Google and Samsung? b. How does this ratio compare Google, Samsung and Industry? c. If analyst give a range of higher than 20-25 for a stock to be considered overpriced and less than 5-8 for a stock to be considered underpriced, how is Apple doing? 10. Dividend Yield (page 564) (2 points) a. What was Apple's Dividend Yield ratio for 2016? b. How does this ratio compare Google and Samsung? What does this tell you about Apple