Question
Start your research by referring to Apples fiscal 2018 (Year Ended September 29, 2018) in Appendix A of our textbook. Find the Consolidated Balance Sheet,
Start your research by referring to Apples fiscal 2018 (Year Ended September 29, 2018) in Appendix A of our textbook. Find the Consolidated Balance Sheet, then the section that lists the number of shares of common stock authorized, issued, and outstanding. For example, here are the number of share information you should locate in the textbook Appendix A:
- Number of Shares Authorized: 12,600,000
- Number of Shares Issued and outstanding 9/29/2018 4,754,986
- Number of Shares Issued and outstanding 9/30/2017 5,126,201
Search the internet for Apples fiscal year 2020 annual report 10-K
1) View the 9/26/2020 Apple Annual Report, Notes to the Financial Statements, Note 1 - Summary of Significant Accounting Policies. Explain why the number of shares authorized for the years ended 9/29/2018 and 9/30/2017 noted above are significantly different than the number of shares authorized for the year ended 9/26/2020. Include the mathematical calculation of how the number of shares authorized was calculated to change from 12,600,000 shares on 9/29/2018 to the number of shares authorized on 9/26/2020.
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