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The financial statements of Apple Inc. for 2014 are presented in Appendix A. Identify the liabilities classified by Apple as current. Apple Inc. CONSOLIDATED STATEMENTS
The financial statements of Apple Inc. for 2014 are presented in Appendix A.
Identify the liabilities classified by Apple as current.
Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) September 30, 2017 $ s Net sales Cost of sales Gross margin $ Years ended September 24, 2016 215,639 131.376 84.263 229,234 141,048 88,186 September 26, 2015 233,715 140,089 93,626 Operating expenses: Research and development Selling, general and administrative Total operating expenses 11,581 15,261 26,842 10,045 14,194 24,239 8,067 14.329 22,396 Operating income Other income/expense), net Income before provision for income taxes Provision for income taxes Net income 61,344 2,745 64,089 60.024 1,348 71,230 1,285 72,515 19,121 53,394 61,372 15,685 45,687 15,738 48,351 $ $ $ Earnings per share: Basic $ $ 8.35 $ 9.28 9.27 9.21 Diluted $ 8.31 $ 9.22 Shares used in computing earnings per share: Basic Diluted 5,753,421 5,217,242 5,251,692 5,470,820 5,500,281 5,793,069 Cash dividends declared per share $ 2.40 $ 2.18 $ 1.98 See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) September 30, 2017 48,351 Years ended September 24, 2016 45,687 September 26, 2015 53,394 $ $ $ Net income Other comprehensive income/loss): Change in foreign currency translation, net of tax effects of $(77), $8 and $201, respectively 224 75 (411) 1,315 7 2,905 Change in unrealized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(478), $(7) and $(441), respectively Adjustment for net (gains)/losses realized and included in net income, net of tax expense/(benefit) of $475, $131 and $630, respectively Total change in unrealized gains/losses on derivative instruments, net of tax (1,477) (162) (741) (734) (3,497) (592) (782) 1,582 Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit/(expense) of $425, $(863) and $264, respectively Adjustment for net (gains)/losses realized and included in net income, net of tax expense/(benefit) of $35, $(31) and $(32), respectively Total change in unrealized gains/losses on marketable securities, net of tax (483) 56 (64) (846) 59 (424) 1,638 Total other comprehensive income/(loss) Total comprehensive income (784) 47,567 979 46,666 (1,427) 51.967 $ $ $ See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 30, September 24, 2016 2017 ASSETS: $ 20,484 Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $58 and $53, respectively Inventories Vendor non-trade receivables Other current assets Total current assets 20,289 53,892 17,874 4,855 17.799 13,936 128,645 46,671 15,754 2,132 13,545 8,283 106,869 Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets, net Other non-current assets Total assets 194,714 33,783 5,717 2,298 10,162 375,319 170,430 27,010 5,414 3,206 8,757 $ $ 321,686 LIABILITIES AND SHAREHOLDERS' EQUITY: $ S Current liabilities: Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities 49,049 25,744 7,548 11,977 6,496 100,814 37,294 22,027 8,080 8,105 3,500 79,006 Deferred revenue, non-current Long-term debt Other non-current liabilities Total liabilities 2,836 97,207 40,415 241,272 2,930 75,427 36,074 193,437 Commitments and contingencies 31,251 Shareholders' equity: Common stock and additional paid-in capital, S0.00001 par 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 96,364 35,867 98,330 (150) 134,047 375,319 634 128,249 321,686 $ $ See accompanying Notes to Consolidated Financial StatementsStep by Step Solution
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