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Prepare a comparative balance sheet, income statement, and statement of cash flows, and perform a horizontal analysis of the companys balance sheet, income statement, and
Prepare a comparative balance sheet, income statement, and statement of cash flows, and perform a horizontal analysis of the companys balance sheet, income statement, and statement of cash flows for the most recent two years. Apple Inc. 2022 2021 $ Change % Change Current Assets 118,180 134836 -16656 -12.4 Propert 39304 39440 -136 -0.34 Other Assets 193178 176726 16452 9.31 Total Assets 350662 351002 -340 -0.1 Current Liabilities 127508 125481 2027 1.62 Long Term Liabilities 103323 109106 -5783 -5.3 Common Stock 593 561 32 5.7 Retained Stock 12712 15261 -2549 -16.7 Total Liabilities & Equity 244136 250409 -6273 -2.51 Net Sales 89584 97278 Net Sales as a % of Revenue 100% 100% Cost of Goods Sold 51505 54719 COGS % of Revenue 57.5% 56.3% Gross Profit 38079 42559 Gross Profit Margin % 42.51% 43.8% Cash $34,940 28098 Cask % 39% 28.9% Investments 27699 23413 Investments % 30.92% 24.09% Receivables 26278 20815 Receivables % 29.33% 21.40% Inventories 6580 5460 Inventories % 7.35% 5.61% Property 39440 39304 Property % 44.03% 40.4% Intangible Assets $48,849 51959 Intangible Assets % 54.53% 53.43% Total Assets $351,002 350.662 Total Assets % 391.81% 360.47% Liabilities & Shareholders 351002 $350,662 Liabilities & Shareholders % 391.81% 360.47% Short & Long Term 9613 9659 Short & Long Term % 10.73% 9.93% Accounts Payable $54,763 $52,682 Accounts Paybale % 61.13% 54.2% Income Tax 4381 5129 Income Tax % 4.9% 5.27% Deferred Tax 7612 7920 Deferred Tax % 8.50% 8.14% Total Liabilities $125,481 $127,508 Total Liabilities % 140.1% 131.1% Net Income 23630 25010 Net Income % 23.4% 131.1% Depreciation 4001 4517 Depreciation % 4.50% 4.64 Deferred Tax 7612 7920 Deferred Tax % 8.5% 8.14% Net Operating Cash Flow 62744 75132 Net Operating Cash Flow % 70.04% 77.23% Identify at least one significant change (increase or decrease) from one year to the next in a balance sheet, income statement, and statement of cash flow account. Identify the causes of the change in each of these accounts. Discuss the implications of each of these account changes, and your assessment of the company based on these changes. Do these changes reflect positively or negatively on the company, and what is your assessment of the outlook for the company
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