Use the research and analysis, along with an explanation of accounting concepts, to tell a story about your corporation's financial performance and position.

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Home>Business & Finance homework help>Management homework help>Use the research and analysis, along with an explanation of accounting concepts, to tell a story about your corporation's financial performance and position.

IS

Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
Years ended
September 28, September 29, September 30,
2019 2018 2017
Net sales:
   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 11.97 12.01 9.27
Diluted 11.89 11.91 9.21
Shares used in computing earnings per share:
Basic 4,617,834 4,955,377 5,217,242
Diluted 4,648,913 5,000,109 5,251,692

BS

Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
September 28, September 29,
2019 2018
ASSETS:
Current assets:
Cash and cash equivalents 48,844 25,913
Marketable securities 51,713 40,388
Accounts receivable, net 22,926 23,186
Inventories 4,106 3,956
Vendor non-trade receivables 22,878 25,809
Other current assets 12,352 12,087
Total current assets 162,819 131,339
Non-current assets:
Marketable securities 105,341 170,799
Property, plant and equipment, net 37,378 41,304
Other non-current assets 32,978 22,283
Total non-current assets 175,697 234,386
Total assets 338,516 365,725
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable 46,236 55,888
Other current liabilities 37,720 33,327
Deferred revenue 5,522 5,966
Commercial paper 5,980 11,964
Term debt 10,260 8,784
Total current liabilities 105,718 115,929
Non-current liabilities:
Term debt 91,807 93,735
Other non-current liabilities 50,503 48,914
Total non-current liabilities 142,310 142,649
Total liabilities 248,028 258,578
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively 45,174 40,201
Retained earnings 45,898 70,400
Accumulated other comprehensive income/(loss) -584 -3,454
Total shareholders’ equity 90,488 107,147
Total liabilities and shareholders’ equity 338,516 365,725

Ratio

Inventory Turnover 2019 2018
COGS 161,782 163,756
Inventory 4,106 3,956
Inventory Turnover 39.40 41.39
Days of inventory
Days 360 360
Inventory turnover 39.4013638578 41.3943377149
Days of inventory 9 9
Accounts receivable Turnover 2019 2018
Sales 260,174 265,595
Account receivable 22,926 23,186
Turnover 11.35 11.45
Days of inventory
Days 360 360
Inventory turnover 11.35 11.45
Days of inventory 32 31
Debt to equity
Debt 102,067 102,519
Equity 90,488 107,147
Debt to equity ratio 1.13 0.96
Debt to total assets
Debt 102067 102519
Total assets 338,516 365,725
Ratio 0.30 0.28
Return on equity 2019 2018
Net income 55,256 59,531
Equity 90,488 107,147
Debt to equity ratio 0.61 0.56
Net profit margin
Net profit 55256 59531
Sales 260,174 265,595
Ratio 0.21 0.22
Current ratio 2019 2018
Current assets 162,819 131,339
Current liability 105,718 115,929
Ratio 1.54 1.13
Quick ratio
Current assets 158,713 127,383
Current liability 105,718 115,929
Ratio 1.50 1.10