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Specimen Financial Statements: Apple Inc. of which is a product of the corporation's accounting system. - Financial Highlights - Letter to the Stockholders - Management's

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Specimen Financial Statements: Apple Inc. of which is a product of the corporation's accounting system. - Financial Highlights - Letter to the Stockholders - Management's Discussion and Analysis - Financial Statements - Notes to the Financial Statements - Management's Responsibility for Financial Reporting - Management's Report on Internal Control over Financial Reporting - Report of Independent Registered Public Accounting Firm - Selected Financial Data Apple Inc. Apple Inc. See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: \begin{tabular}{|c|c|c|} \hline Accounts payable & $42,296 & $46,236 \\ \hline Other current liabilities & 42,684 & 37,720 \\ \hline Deferred revenue & 6,643 & 5,522 \\ \hline Commercial paper & 4,996 & 5,980 \\ \hline Term debt & 8,773 & 10,260 \\ \hline Total current liabilities & 105,392 & 105,718 \\ \hline \end{tabular} Non-current liabilities: \begin{tabular}{lrr} Term debt & 98,667 & 91,807 \\ Other non-current liabilities & 54,490 & 50,503 \\ Total non-current liabilities & 142,310 \\ Total liabilities & 153,157 & 248,028 \\ \hline \end{tabular} Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,976,763 and 17,772,945 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity \begin{tabular}{rr} 50,779 & 45,174 \\ 14,966 & 45,898 \\ \hline(406) & 95,339(584) \\ \hline90,488 \\ \hline \end{tabular} See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONGOI INATE CTATEMENTC OE CHADEHOI REDC' EOIITV Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) See accompanying Notes to Consolidated Financial Statements. The financial statements for Apple Inc. are presented in Appendix A. Click here to view Appendix A. Answer these questions using the Statement of Operations. (a) What was the percentage change in net sales and in net income from the year ended September 28, 2019, to the year ended September 26, 2020? (Round percentage to 1 decimal place, e.g. 15.2%.)

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