Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following summarized data (amounts in millions) are taken from the September 27, 2014, and September 28, 2013, comparative financial statements of Apple Inc., a
The following summarized data (amounts in millions) are taken from the September 27, 2014, and September 28, 2013, comparative financial statements of Apple Inc., a manufacturer of mobile communication and media devices, personal computers, portable digital music players, and seller of a variety of related software, services, accessories, networking solutions, and third-party digital content and applications:
(Amounts Expressed in Millions) For the Fiscal Years Ended September 27 and September 28, respectively: Net sales Costs of sales Operating income Net income At Year End: Assets Current assets 2014 2013 $ 182,795 $ 170,910 106,606 48,999 $ 39,510 $37,037 112,258 52,503 Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowance of $84 and $99, respectively Inventories Deferred tax assets Vendor nontrade receivables Other current assets $ 13,844 $14,259 26,287 13,102 1,764 3,453 7,539 11,233 17,460 4,318 9,759 9,806 68,531 130,162 20,624 4.616 4.142 3,764 Total current assets Long-term marketable securities Property, plant, and equipment, net Goodwill Acquired intangible assets, net Other assets 73,286 106,215 16,597 1,577 4,179 5,146 207,000 Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 30,196 $22,367 13,856 7,435 18,453 8,491 Accrued expenses Deferred revenue Commercial paper Total current liabilities 63,448 3,031 28,987 24,826 43,658 2,625 16,960 Deferred revenue-noncurrent Long-term debt Other noncurrent liabilities Total liabilities Shareholders' Equity: Common stock and additional paid-in capital, $0.00001 par value, 12,600,000 shares authorized, 929,277 and 915,970 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) 23,313 87,152 1,082 111,547 19,764 104,256 471) Total shareholders' equity Total liabilities and shareholders' equity $ 231,839 $ 207,000 At September 29, 2012, total assets were $176,064 and total shareholders' equity was $118,210Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started