Using the company's financial statements, calculate and evaluate the firm’s sustainable growth rate

Use this spreadsheet for the information needed to complete this assignment.

Complete the following:

Using the company's financial statements, calculate and evaluate the firm’s sustainable growth rate (SGR) for the last 3 years, and summarize your findings in your paper. Be sure to address the following:

• What are the sustainable growth rates for your subject company over the period that you studied?
• What are the consequences faced by firms that grow at a rate that is not consistent with their sustainable rate?
• If the firm grew at a rate above or below the SGR, how might it finance its excessive growth or reward its stockholders for the underperformance?
• 
  

C:\Users\cowad\Downloads\FINC225 Unit 4 and 5 IP AAPL Data_For Students.xlsx Unit 4 and 5 IP AAPL Data_For Students.xlsx

EXCEL spreedsheet

         APPLE   INC (AAPL) INCOME STATEMENT APPLE INC (AAPL) CashFlowFlag INCOME STATEMENT            Fiscal year ends in September. USD in   millions except per share data. 9/24/2016 

 9/26/2015  

9/27/2014 

9/28/2013            Revenue  $ 215,639   $ 233,715   $ 182,795   $ 170,910  

   Cost of revenue  $ 131,376   $ 140,089   $ 112,258   $ 106,606 

    Gross profit  $ 84,263   $ 93,626   $ 70,537   $ 64,304      

       Operating expenses        Research and development  $ 10,045   $ 8,067   $ 6,041   $ 4,475     Sales, General and administrative  $ 14,194   $ 14,329   $ 11,993   $ 10,830     Total operating expenses  $ 24,239   $ 22,396   $ 18,034   $ 15,305     Operating income  $ 60,024   $ 71,230   $ 52,503   $ 48,999             Interest Expense  $ 1,456   $ 733   $ 384   $ 136     Other income (expense)  $ 2,804   $ 2,018   $ 1,364   $ 1,292     Income before taxes  $ 61,372   $ 72,515   $ 53,483   $ 50,155     Provision for income taxes  $ 15,685   $ 19,121   $ 13,973   $ 13,118     Net income from continuing operations  $ 45,687   $ 53,394   $ 39,510   $ 37,037     Net income  $ 45,687   $ 53,394   $ 39,510   $ 37,037     Net income available to common   shareholders  $ 45,687   $ 53,394   $ 39,510   $ 37,037                  �