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The balance sheet for Apple Inc. is shown . The use of common-sized financial statements, also know as vertical analysis, expresses all items as a

The balance sheet for Apple Inc. is shown . The use of common-sized financial statements, also know as vertical analysis, expresses all items as a percentage of a selected item on the statement. This allows comparisons between different periods for the same company. Perform a Vertical Analysis of Apple inc.'s balance sheet. Round the amounts to the nearest tenth of a percent (for example, 98.9% = 99.0%)

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$ Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets 50,530 $ 44,084 14,148 3,355 12,326 10,530 134,973 25,913 40,388 23,186 3,956 25,809 12,087 131,339 Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets 115,996 37,636 33,634 187,266 322,239 $ 170,799 41,304 22,283 234,386 365,725 $ LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities 29,115 $ 31,673 5,434 9,953 13,529 89,704 55,888 33,327 5,966 11,964 8,784 115,929 Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities 84,936 51,143 136,079 225.783 93,735 48,914 142,649 258,578 Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,531,395 and 4,754,986 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity 43,371 53,724 (639) 96,456 322,239 $ 40,201 70,400 (3,454) 107,147 365,725

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