Use Apple's financial statements in Appendix A to answer the following. 1. Identify Apple's long-term debt as reported on its balance sheet at (a) September 29, 2018, and (b) September 30, 2017. 2. Calculate the percentage change in long-term debt from September 30, 2017, to September 29, 2018. 3. If Apple's reported long-term debt continues on the current trend, do we expect total interest expense to increase or decrease? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Identify Apple's long-term debt as reported on its balance sheet at (a) September 29, 2018, and (b) September 30, 2017. (Enter your answers in millions of dollars.) September 29, September 30, 2018 2017 Long-term debt Required 1 Required 2 > September 30, 2017 $ Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 29, 2018 ASSETS Current assets Cash and cash equivalents $ 25,913 Marketable securities 40.388 Accounts receivable, net 23,186 Inventories 3,956 Vendor non-trade receivables 25,809 Other current assets 12,087 Total current assets 131,339 Non-current assets: Marketable securities 170,799 Property, plant and equipment, net 41,304 Other non-current assets 22,283 Total non-current assets 234,386 Total assets $ 365,725 20,289 53,892 17,874 4,855 17,799 13,936 128,645 194,714 33,783 18,177 246,674 375,319 $ LIABILITIES AND SHAREHOLDERS' EQUITY $ 44,242 30,551 55,888 32,687 7,543 11,964 8.784 116,866 7,548 11,977 6,496 100,814 Current liabilities Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities Deferred revenue Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies 2,797 2,836 97,207 93,735 45,180 141,712 258,578 40,415 140.458 241,272 40,201 Shareholders' equity Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,754,986 and 5,126,201 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity 70,400 (3,454) 107,147 365,725 35,867 98,330 (150) 134,047 375,319 See accompanying Notes to Consolidated Financial Statements