A high percentage of Americans own stock in corporations. As a shareholder in a corporation, you will receive an annual report. One of the goals of this course is for you to learn how to navigate your way around an annual report.

Instructions

Use Apple’s 2013 annual report provided in Appendix A to answer the following questions.

(a) What CPA firm performed the audit of Apple’s financial statements?

(b) What was the amount of Apple’s earnings per share in 2013?

(c) What were net sales in 2013?

(d) How much cash did Apple spend on capital expenditures in 2013?

(e) Over what life does the company depreciate its buildings?

(f) What were the proceeds from issuance of common stock in 2013?