Financial Statements for Apple, Inc

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