This case focuses on the financial statements of two real companies – Apple, Inc. and Starbucks Corporation.

Visit http://investor.apple.com/secfiling.cfm?filingid=1193125-15-356351&cik=320193 and

http://investor.starbucks.com/financial-information/annual-reports/default.aspx.

a.) What is the fiscal year-end for each company? Is the fiscal-year the same for both companies? Is the fiscal-year end a calendar year end? Why would one company have a different fiscal-year end than another company?

b.) How much in cash (including cash equivalents) did each company have at the end of their fiscal year 2015? What are cash equivalents?

c.) What were each company’s total assets at the end of their fiscal year 2015?

d.) Write each company’s accounting equation at the end of their fiscal year 2015?

e.) Identify total net sales (revenues) for each company at the end of their fiscal year 2015? How much did total revenue increase or decrease from 2014 to 2015 for each company?

f.) How much net income (net earnings) or net loss did each company earn for 2015 and for 2014? Based on net income, was 2015 better or worse than 2014?

e.) Calculate each company’s return on assets as of their fiscal year-end 2015.