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Use Apple's financial statements in Appendix. A to answer the following. Required: 1. What amount of inventories did Apple report as a current asset (a) on September 28, 2019? (b) On September 29, 2018? 2. Inventories make up what percent of total assets (a) on September 28, 2019? (b) On September 29, 2018? 3. Assuming Apple has enough inventory to meet demand, does Apple prefer inventory to be a lower or higher percentage of total assets? 4. Compute (a) inventory turnover for fiscal year ended September 28, 2019, and (b) days' sales in inventory as of September 28, 2019. Complete this question by entering your answers in the tabs below. What amount of inventories did Apple report as a current asset (a) on September 28, 2019? (b) On September 29, 2018? Note: Enter your answers in millions. Apple Inc. Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 28, 2019 September 29,2018 September 30,2017 Nest sales: See accompanying Notes to Consolidated Fnancial Statements. Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUTTY (In millions) Retained carnings Accumulated caher comprehensive income (loss) See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (ln millions) Years ended Cash, cash equivalents and restricted cash, beginning balances Operating activities Net income 55,256 59,531 48,351 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Delerred income tax expense (benefit) Other Changes in operating assets and liabilities: See accompanying Notes to Consolidated Financial Statements