Question 25 View Policies Current Attempt in Progress The financial statements of Apple Inc. for 2014 are presented in Appendix A Click here to view Appendix A. Refer to Apple's financial statements and answer the following questions. Part 1 What were Apple's total current liabilities at September 27, 2014? What was crease in Apple's total current liabilities from the prior year? Total current liabilities S millions Apple's total current liabilities increased by $ Save for Later Atten Part 2 Part 2 How much were the accounts payable at September 27, 2014? Accounts payable $ millions Save for Later References Specimen Financial Statements: Apple Inc. w of the peo despeses d p le for the M e the party o function of owwy o f rtsete, multicolored glossy public report is to report an info the report spice s t all of which is it is clean the pictures of companies and doctor dit of the post's weig well as M d Analysis Raport of de doble Acco T E CE of the reports. On the following pages, we present Appl i ancia report is called 2014 F 10 For To 10-K, whicho omits the publici s pieces found in most standard Apple Form 10-Kinchadits to the financial sta f ollow these Lopple.com 2014 Select the port de 4. The Nos Cod ici 2014 CONSOLIDATED STATEMENTS OF OPERATIONS In mons t rumber of shares which are reflected in thousands and per share amounts) Year ended September 27, September 26, September 29 2013 2012 $ 182.795 $170,910 $ 156,508 112.258 Cost of 108.606 87.846 70,537 Gross margin 64,304 68,662 Operating expenses Research and development 6.041 4,475 3,381 Somos and arrive 11.993 10,830 10.040 Total operating expenses 18 15.305 13.421 Operating income 52,503 48.999 55,241 Other income/exponsel.net 980 1.156 522 roome before provision for income 53.483 50.155 55,783 Provision for comes 13.973 13.118 14,030 Not income $ 30,510 $ 37.037 $ 41,733 Earings per share Bosc Diluted $ 6.49 6.45 5.72 5.68 6.38 6.31 $ $ Share used in computing comings per share: Basic Diluted 6,085,572 6,122,663 6,477,320 6,521,634 6,617,483 Cash dividends declared per common share $ 1.82 $ 1.64 $ 0.38 Diluted 6,122,8636,521634 6.617,483 $ 1.82 Cash dividends declared per common share $ 1.64 $ 0.38 See accompanying Notes to Consolidated Financial Statements September 29, 2012 $ 41,733 (15) CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in milions Years ended September 27. September 28 2014 2013 Net income $ 39,510 $ 37,037 Other comprehensive income foss: Change in foreign currency translation, net of tax effects of $50, $35 and $13, respectively (137) (112) Change in unrecognized gains/osses on derivative Instruments: Change in fair value of derivatives, net of tax benefit expense of $1297). $(351) and $73, respectively 1,390 Adjustment for net losses/lains) realized and included in net income, net of tax expense benefit of $36. $256 and $220, respectively 149 Total change in unrecognized gains losses on derivative instruments, net of tax 1,539 Change in unrealized gains losses on marketable securities: Change in fair value of marketable securities, net of tax benefit expense of $1153). $458 and $421), respectively 285 Adjustment for net losses/gains) realized and included in net income. net of tax expense/benefit of $71, $82 and 568, respectively (131) Total change in unrealized gans/losses on marketable securities, net of tax Total the common in incomalossi (114 601 1970 134 (131) more read and included income not of tax expense benefit of $71,582 and $68, respectively Total change in unreated gansosses on marketable securities, net ofta Total other comprehensive income foss Total comprehensive income 151 1922) 1970) 1,553 41,063 36,067 $ 41,789 See accompanying Notes to Consolidated Financial Statements CONSOLIDATED BALANCE SHEETS in milions, except number of shares which are reflected in thousands and per value September 27. September 28, 2013 $ $ ASSETS: Current Cash and cash e nts Short-term maritable securities Accounts receivable less alowances of $80 and $99. respectively Inventores Deferred tax sets Vendor non-trade receivables Other current assets Total current assets Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets.net Others 13,844 11.230 17,460 2.111 4,318 9,750 9.806 68.531 130.162 20,624 4,616 4,142 14,259 26,287 13,102 1.784 3,453 7.530 6.882 73.286 106,215 16,507 1.577 4,179 5.146 002 3,784 2 4.142 3.764 $ 231.839 4,179 5,146 $ 207.000 $ $ 22,367 13.856 7,435 Acquired intangible assets.net Other assets Totalets LIABILITIES AND SHAREHOLDERS' EQUITY: Current abilities Accounts payable Accrued expenses Deferred revenue Commercial paper Total current abilities Deferred revenue-non-current Long-term debt Other non-current abilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized: 5,806,161 and 6.294,494 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/oss) Total shareholders' equity Total abilities and shareholders' equity 30,196 18,453 8,491 6,308 63,448 3,031 28,987 24,826 120,292 43,658 2,625 16,960 20,208 83,451 23,313 87,152 1,082 19,764 104,256 (471) 123,549 $ 207.000 111,547 $ 231.839 See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In milions, except number of shares which are reflected in thousands) See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY in millions, except number of shares which are reflected in thousands) Common Stock and Additional Paid in Capital Shares Amount 6,504,937 $ 13,331 Retained Earnings Accumulated Other Comprehensive Income (Loss) $ 443 Total Shareholders Equity $ 76,615 41.733 $ 62,841 41.733 (2.523) (2,523) 1.740 1.740 o 69,521 200 (762) (562 1.151 6.574,458 422 Balances as of September 24, 2011 Net income Other comprehensive income/oss) Dividends and dividend equivalents declared 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 29, 2012 Net income Other comprehensive income/loss) Dividends and dividend equivalents declared epurchase 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 28, 2013 Net income 101.289 37.037 970) 1.151 118.210 37.037 (970) (10,676) (22.950) 2,253 (10.676) (22,950) (328,837) 2.253 48,873 (143) (444) (587) 1.232 19,764 6.294,494 104,256 39,510 1.232 123,549 39,510 6.294,494 19,764 104.256 39,510 Balances as of September 28, 2013 Net income Other comprehensive income/loss) Dividends and dividend equivalents declared 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 27, 2014 123.549 39,510 1,553 (11.215) (45,000) 2,863 (488.677) (11.215) (45,000) 0 2,863 60,344 (49) (399) (448) 735 735 $ 23,313 5,866,161 $ 87,152 $ 1.082 $111.547 2014 See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF CASH FLOWS In milions) Years ended September 27. September 28. September 29, 2013 2012 Cash and cash equivalents, beginning of the year $ 14.259 S 10.746 $ 9.815 Operating activities: Net income 39,510 37,037 41.733 Adjustments to reconcile net income to cash generated by operating activities: epreciation and amortization 7.946 6,757 3,277 hare based compensatione pense 2,863 2.253 1,740 ferred income ta e pense 2,347 1,141 4,405 Changes in operating assets and abilities: Accounts receivable, net (4.232) (2.172) Inventories (5,551) (76) (973) endor non trade receivables (15) (2.220) 223 Other current and non current assets (1,414) 1,080 (3.162) 167 (2.220) 167 5.938 1,460 6.010 59.713 223 1.080 2.340 1,459 4,521 53,686 (1.414) (3.162) 4,467 2.824 2.552 50,856 (151.232) 13,035 (217,128) 18,810 189,301 (3.765) 19.571) (242) (148,489) 20,317 104,130 (496) 18,165) (911) (160) (33.774) 99,770 (350) (8.295) (1.107) (48) (48.227) (22,579) endor non trade receivables Other current and non current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities urchases of mar etable securities roceeds from maturities of mar etable securities Proceeds from sales of mar etable securities Payments made in connection with business acquisitions, net Payments for acquisition of property, plant and equipment Payments for acquisition of intang ble assets Other Cash used in investing activities Financing activities Proceeds from issuance of common stock xcess tax benefits from equity awards axes paid related to net share settlement of equity awards Dividends and dividend equivalents paid epurchase of common stock Proceeds from issuance of long-term debt.net Proceeds from issuance of commercial paper, net Cash used in financing activities Increase/(decrease) in cash and cash equivalents Cash and cash equivalents, end of the year Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest 730 739 (1,158) (11,126) (45,000) 11,960 6.306 (37.549) (415) $ 13,844 530 701 (1.082) (10,564) (22,860) 16,896 665 1,351 (1.226) (2.488 0 698 (16,379) 3,513 14.259 931 $ 10,746 $ 10,026 339 $ % 0.128 0 $ % 7,682 0 See accompanying Notes to Consolidated Financial Statements