Reformulate the balance sheet, statement of cash flow, statement of shareholders equity, and income statement of Apple in 2019 Analysis begins with the reformulation of financial statements. Reformulation readies the statements for analysis within a spreadsheet. The aim is to: Separate operating and financing items in the statements Bring additional information into the statements from footnotes and elsewhere. The financial statements aggregate a lot of information (particularly the income statements). Break down the aggregation to give more detail. Allocate taxes in the income statement to operating and financing activities Distinguish different components of income such as core operating income from sales, other core operating income, and unusual items