Use Apple$$s financial statements in Appendix A to answer the following. Apple Inc.

CONSOLIDATED BALANCE SHEETS

$($In millions, except number of shares which are reflected in thousands and par value$)$

September $28,2019$

ASSETS

September $29,2018$

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

See accompanying Notes to Consolidated Financial Statements. Apple Inc.

CONSOLIDATED STATEMENTS OF OPERATIONS

$($In millions, except number of shares which are reflected in thousands and per share amounts$)$

$\backslash$table$[[$Years ended,September $28,2019,$September $29,2018,$September $30,2017],[$Products$,213,883,225,847,196,534],[$Services$,46,291,39,748,32,700],[$Total net sales,$260,174,265,595,229,234],[$Cost of sales:,,,$],[$Products$,144,996,148,164,126,337],[$Services$,16,786,15,592,14,711],[$Total cost of sales,$161,782,163,756,141,048],[$Gross margin,$98,392,101,839,88,186],[$Operating expenses:,,,$],[$Research and development,$16,217,14,236,11,581],[$Selling$,$ general and administrative,$18,245,16,705,15,261],[$Total operating expenses,$34,462,30,941,26,842],[$Operating income,$63,930,70,898,61,344],[$Other income $($expense$),$ net,$1,807,2,005,2,745],[$Income before provision for income taxes,$65,737,72,903,64,089],[$Provision for income taxes,$10,481,13,372,15,738],[$Net income,$55,256,59,531,48,351],[$Earnings per share:,,,$],[$Basic$,11\mathrm{.}97,12\mathrm{.}01,9\mathrm{.}27],[$Diluted$,11\mathrm{.}89,11\mathrm{.}91,9\mathrm{.}21],[$Shares used in computing earnings per sha,,,$],[$Basic$,4,617,834,4,955,377,5,217,242],[$Diluted$,4,648,913,5,000,109,5,251,692]]$

See accompanying Notes to Consolidated Financial Statements. Apple Inc.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

$($In millions$)$

See accompanying Notes to Consolidated Financial Statements.Apple Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

$($In millions$)$

How many shares of Apple common stock are issued and outstanding at

$($a$)$ September $28,2019,$ and

$($b$)$ September $29,2018?$

What is the total amount of cash dividends paid to common stockholders for the years ended

$($a$)$ September $28,2019,$ and

$($b$)$ September $29,2018?$

Identify basic earnings per share $($EPS$)$ amounts for fiscal years

$($a$)2019$ and

$($b$)2018.$

Is Apple$$s earnings per share $($EPS$)$ on a favorable or unfavorable trend from $2018$ to $2019?$

If Apple buys back outstanding shares from investors, would you expect earnings per share $($EPS$)$ to increase or decrease from the buyback?Apple Inc.

CONSOLIDATED BALANCE SHEETS

$($In millions, except number of shares which are reflected in thousands and par value$)$

September $28,2019$

ASSETS

September $29,2018$

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

See accompanying Notes to Consolidated Financial Statements.