Review the Apple Inc. CONSOLIDATED FINANCIAL STATEMENTS FOR 2014 2016 (Apples financial year ended on September 26, 2016). See below for online links to the Apple information. Using your financial knowledge and ratio analysis:

1. What are the gross profit, operating profit, and net profit margins and do they change significantly over the course of these three years? Remember profits are always related to Sales.

2. How do you think these percentages compare to other major businesses? Choose one firm from each of these categories retail (Target, Walmart), manufacturing (GE, Ford), technology (Microsoft, Google) and explain briefly why these industries margins might differ. The companies I show in parenthesis are only there for example. Chose any companies you want.

3. How would you assess Apples balance sheet? Look at their liquidity, fixed assets, debt, and shareholder equity and analyze the relationships among these key components of the balance sheet.

4. What is the inventory turn for the company? How would this number compare with other companies in the retail sector?

5. How does Apple generate cash and what are the primary uses that it is making of its cash in each component of the cash flow statement cash from operations, cash from investing activities, cash from financing activities, R&D, etc.?

6. Make a general statement about the financial health of Apple Inc. How does this seem to be reflected in the price of the stock? What does the progression of the stock price tell us about the future prospects of the company?

Apple Inc. (AAPL) NasdaqGS - NasdaqGS Real Time Price. Currency in USD Add to watchlist 137.10 +0.17 (+0.12%) As of 1:25PM EST. Market open. Summary Conversations Statistics Profile Financials Options HoldersHistorical Data Analysts Avoiding Home Repair Bills Really Pays Off! Go > HomeServe USA Show: Income Statemen Cash Flow Balance Sheet AnnualQuarterly Income Statement Al numbers in thousands Revenue 9/24/2016 9/26/2015 9/27/2014 Total Revenue 215,639,000 131,376,000 84,263,000 233,715,000 40,089,000 93,626,000 82,795,000 12,258,000 70,537,000 Cost of Revenue Gross Profit Apple Inc. (AAPL) NasdaqGS - NasdaqGS Real Time Price. Currency in USD Add to watchlist 137.10 +0.17 (+0.12%) As of 1:25PM EST. Market open. Summary Conversations Statistics Profile Financials Options HoldersHistorical Data Analysts Avoiding Home Repair Bills Really Pays Off! Go > HomeServe USA Show: Income Statemen Cash Flow Balance Sheet AnnualQuarterly Income Statement Al numbers in thousands Revenue 9/24/2016 9/26/2015 9/27/2014 Total Revenue 215,639,000 131,376,000 84,263,000 233,715,000 40,089,000 93,626,000 82,795,000 12,258,000 70,537,000 Cost of Revenue Gross Profit