Required: 1. What amount of accounts payable did Apple report on (a) September 30, 2017? (b) On September 24, 2016? (a) September 30, 2017 (b) September 24, 2016 Accounts payable S 49,049 $ 37,294 2. Compute days' payable outstanding for fiscal year ended (a) September 30, 2017, and (b) September 24, 2016. (Do not round intermediate calculations. Round your final answers to 1 decimal place. Use 365 days in a year.) (a) September 30, 2017 (b) September 24, 2016 Days' payable days days Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 30, 2017 September 24, 2016 20,484 46,671 20.289S 53.892 17,874 4,855 17.799 ASSETS Current assets Cash and cash equivalents Short-term marketable securities Accounts receivable, less alkwances of $58 and SS3, respectively Inventorics Vendor non-trade receivables Other current assets Tocal current assets Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets, net Other non-current assets Total assets 13,936 128,645 194,714 33.783 5.717 2,298 10,162 375.319 15,754 2,132 13.545 8.283 106,869 170,430 27,010 5,414 3.206 8.757 321.686 S LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities Deferred revenue, non-current Long-term debt Other non-current liabilities Totallilities Commitments and contingencies 49,0495 25,764 7.54 11.977 6,496 100,814 2.836 97.207 40.415 37,206 22.027 8,080 8.105 3.500 79,006 2.930 75.427 241,272 36,074 193,437 35,867 98,330 Shareholders' equity Common stock and additional paid in capital, $0,00001 per value: 12.600.000 shares authorized: 5,126,201 and 5.336,166 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. 31.251 96,364 634 128.249 134,047 375,319 321.686 Years ended Net als Cost of sales Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS In millions, encepe number of shares which are reflected in thousands and pershare amounts) September 30, 2017 September 24, 2016 229.236 215.639 141.04 131376 September 26, 2015 233,715 140,099 3626 11.581 15251 10,045 14196 24.239 14.329 Operating expenses Research and development Selling general and administrative Tocal operating experts Operating income Other income expensel.net Income before provision for income taxes Provision for increas Net income 61.366 1.365 61,372 64 ORO 15,738 48,351 15. 65 45,687 1.285 72515 19,121 5196 8.35 9.28 9.22 Earnings per share: Basic Diluted Shares used in computing camins per share Basic Diluted Cash dividends declared per share 5.217.242 5,251,692 2. 405 5,470,820 5.500.28 2.18 5,753421 5,793,069 5 1.98 See accompanying Notes to Consolidated Financial Statements September 26, 2015 5 53,394 2,905 Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Years ended September 30, 2017 September 24, 2016 Net income 5 48.351 $ 45,687 Other comprehensive income doss): Change in foreign currency translation, net of tax effects of 77), and 5201, respectively 2247 5 Change in realized gain losses on derivative instruments: Change in fair value of derivatives, net of tax benefit (expense) of 478), 5(7) and S ), respectively 1.315 Adjustment for net ains) losses realized and included in net income, net of tax expense benefit of $475,513 and 5630, respectively (1.477 Total change in unrealized gins/losses on derivative Instruments et otta Change in realized gain losses on marketable securities: Change in fair value of marketable securities, net of tax benefit expense of $425.863) and $264, respectively Adjustment for et ains) losses realized and included in net income met of tax expense benefit of $35, 31 and 32. respectively Total change in and a sses on marketable securities met of tax Total other comprehensive income (los) (786) Total comprehensive income 475675 See accompanying Notes to Consolidated Financial Statements (3,497) (592) 1538 (426 $1.067 Total Shareholders quity 111.947 S1194 (1.427) (11.627) (840) Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY in million, C h er of shares which are reflected in the sands) Accumulated Other Common Stock and Comprehensive Additional Paid-In Capital Retained Income Shares Amount Farnings (Loss) Balances as of September 27, 2014 5.866,161 $ 23,313 $ 87.152 1.042 Net Income S1194 Other comprehensive income (loss) (1.427) Dividends and dividend equivalents declared (11.627) Repurchase of common stock (325,032) Share-based compensation Common stock issued, net of shares withheld for employees (609) Tax benefit from equity awards, including transfer pricing adjustments Balances as of September 26, 2015 5578,753 $ 27,416 $ 92.284 % Net income 4547 Other comprehensive income (los) Dividends and dividend equivalents declared (12.188) Repurchase of common stock (29.000) 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 24, 2016 5316,166 $ 31 251 $ $6364 $ Net income AR 151 Other comprehensive income (los) Dividends and dividend equivalents declared (12.803) Repurchase of common stock 33.001) Share-based compensation Common stock issued, net of shares withheld for employees 1913) Tax benefit from empty awards, including transfer pricing adjustments 620 Balances as of September 30, 2017 5.126201 $ 35.867 $ 98 330 $ (150) See accompanying Notes to Consolidated Financial Statements 748 119,155 45.47 979 (12,188) (29.000) 4.22 (1.225) 179 (120) 33,001) $ 14,007 Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS September 30, 2017 20.486 September 24, 2016 21.120 September 26, 2015 135 Years ended Cash and cash equivalents, beginning of the year Operating activities Netice Adjustments to reconcile net income to cash generated 8.351 45.657 5139 10,157 11.257 10.505 4210 5.966 (166) 486 385 417 527 217 (51) 02.093) (2,723) (4,256) (5.318 9.618 (626) (156) 6.2.598 10SS 1,837 (1,556) (3.735) (283) 5,001 1,042 9,058 (2,033) 65,824 81.266 Depreciation and a ntion Share based compensation expense Deferred income tax expense Other Changes in operating assets and liabilities: Accounts receivable, met L ories Vendor non-trade receivables Other current and current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities Purchases of marketable securities Proceeds from maturities of marketable wcurities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payments for woquisition of property, plant and equipment Payments for acquisition of intangible assets Payments for strategic investments, met Other Cash used in investing activities Financing activities: Proceeds from inance of common stock Excess tax benefits from equity awards Payments for lases related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of cemon stock Proceeds from inance of term debt, net Repayments of term debe Change in commercial paper, met Cash used in financing activities Increase (decrease in cash and cash equivalents Cash Ch ivalents, end of the year (159,486) 31,775 94.564 (329) (12.451) (366 (395) (142,428) 21.258 90,536 (297) (12,734) (814) (1.388) (110) (45,977) (106,402) 14.538 107,447 (343) (11.247) 041) 220 (26) (56,274) (46,446) 555 495 543 627 749 (1.499) (11.561) 5,253) 27,114 (1.874) (12.769) (32.900 28,662 0.500) 3.852 (17,347) (195) (1.570) (12,150) (29,722) 24,954 2.500) 097) 20,483) (636) 20.436 2.191 (17,716) 72276 $ 20.289 $ 21.120 Supplemental cash flow disclosure Cash paid for income taxes, et Cash paid for interest 51.595 2.0925 10. 45 1.316 S 13.252 514 See accompanying Notes to Comelidated Financial Statements