Question: Financial Statements for Apple, Inc…
Using the financial data provided on pages3 and 4, compute the following ratios:
Financial Statements for Apple, Inc. (to be used with problem #2)
Apple Inc.
Income Statement
for the Years Ending 2015 and 2016
Sep 16
Sep 15
Revenue
215,639.00
233,715.00
Cost of Goods Sold
131,376.00
140,089.00
Gross Profit
84,263.00
93,626.00
Gross Profit Margin
39.08%
40.06%
SG&A Expense
14,194.00
14,329.00
Depreciation & Amortization
—
—
Operating Income
60,024.00
71,230.00
Operating Margin
27.84%
30.48%
Nonoperating Income
1,348.00
1,285.00
Nonoperating Expenses
1,348.00
1,285.00
Income before Taxes
61,372.00
72,515.00
Income Taxes
15,685.00
19,121.00
Net Income after Taxes
45,687.00
53,394.00
Apple Inc.
Balance Sheet
September 30, 2015 and 2016
Assets
Sep 16
Sep 15
Current Assets
Cash
20,484.00
21,120.00
Net Receivables
29,299.00
30,343.00
Inventories
2,132.00
2,349.00
Other Current Assets
8,283.00
9,539.00
Total Current Assets
106,869.00
89,378.00
Net Fixed Assets
27,010.00
22,471.00
Other Noncurrent Assets
8,757.00
5,556.00
Total Assets
321,686.00
290,479.00
Liabilities
Sep 16
Sep 15
Current Liabilities
Accounts Payable
37,294.00
35,490.00
Short Term Debt
11,605.00
10,999.00
Other Current Liabilities
8,080.00
8,940.00
Total Current Liabilities
79,006.00
80,610.00
Long Term Debt
75,427.00
53,463.00
Other Noncurrent Liabilities
10,055.00
9,365.00
Total Liabilities
193,437.00
171,124.00
Shareholder’s Equity
Sep 16
Sep 15
Preferred Stock Equity
—
—
Common Stock Equity
31,251.00
27,416.00
Total Equity
128,249.00
119,355.00
Shares Outstanding (M)
5,336.17
5,578.75
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