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Discuss the following for the Apple Inc. Did you find any new terms within the financial statements? Did you find the presentation of the financial statements clear? Why or why not

Discuss the following for the Apple Inc. Did you find any new terms within the financial statements? Did you find the presentation of the financial statements clear? Why or why not

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 6PA: Using the information from BDS Enterprises, prepare the income statement to include all costs, but...
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Discuss the following for the Apple Inc.

Did you find any new terms within the financial statements?

Did you find the presentation of the financial statements clear? Why or why not

Net sales: Products Services Total net sales Cost of sales: Products Services Total cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income Earnings per share: Basic Diluted Shares used in computing earnings per share: Basic Diluted CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) S $ S S September 24, 2022 316,199 78,129 394,328 201,471 22,075 223,546 170,782 26,251 25,094 51,345 $ 119,437 (334) 119,103 19,300 99,803 $ 6.15 $ 6.11 $ 16,215,963 16,325,819 Years ended September 25, 2021 297,392 68,425 365,817 192,266 20,715 212,981 152,836 21,914 21,973 43,887 108,949 258 109,207 14,527 94,680 $ 5.67 5.61 S 16,701,272 16,864,919 S $ September 26, 2020 220,747 53,768 274,515 151,286 18,273 169,559 104,956 18,752 19,916 38,668 66,288 803 67,091 9,680 57,411 3.31 3.28 17,352,119 17,528,214
Transcribed Image Text:Net sales: Products Services Total net sales Cost of sales: Products Services Total cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income Earnings per share: Basic Diluted Shares used in computing earnings per share: Basic Diluted CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) S $ S S September 24, 2022 316,199 78,129 394,328 201,471 22,075 223,546 170,782 26,251 25,094 51,345 $ 119,437 (334) 119,103 19,300 99,803 $ 6.15 $ 6.11 $ 16,215,963 16,325,819 Years ended September 25, 2021 297,392 68,425 365,817 192,266 20,715 212,981 152,836 21,914 21,973 43,887 108,949 258 109,207 14,527 94,680 $ 5.67 5.61 S 16,701,272 16,864,919 S $ September 26, 2020 220,747 53,768 274,515 151,286 18,273 169,559 104,956 18,752 19,916 38,668 66,288 803 67,091 9,680 57,411 3.31 3.28 17,352,119 17,528,214
Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15.943,425 and 16,426,786 shares issued and outstanding, respectively Retained earnings/(Accumulated deficit) Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity ASSETS: LIABILITIES AND SHAREHOLDERS' EQUITY: S $ S $ 23,646 24,658 28,184 4,946 32,748 21,223 135,405 120,805 42,117 54,428 217,350 352,755 64,115 60,845 7,912 9,982 11,128 153,982 98,959 49,142 148,101 302,083 64,849 (3,068) (11,109) 50,672 352,755 $ $ S $ 34,940 27,699 26,278 6,580 25,228 14.111 134,836 127,877 39,440 48,849 216,166 351,002 54,763 47,493 7,612 6,000 9,613 125,481 109,106 53,325 162.431 287,912 57,365 5,562 163 63,090 351,00 ↑
Transcribed Image Text:Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 15.943,425 and 16,426,786 shares issued and outstanding, respectively Retained earnings/(Accumulated deficit) Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity ASSETS: LIABILITIES AND SHAREHOLDERS' EQUITY: S $ S $ 23,646 24,658 28,184 4,946 32,748 21,223 135,405 120,805 42,117 54,428 217,350 352,755 64,115 60,845 7,912 9,982 11,128 153,982 98,959 49,142 148,101 302,083 64,849 (3,068) (11,109) 50,672 352,755 $ $ S $ 34,940 27,699 26,278 6,580 25,228 14.111 134,836 127,877 39,440 48,849 216,166 351,002 54,763 47,493 7,612 6,000 9,613 125,481 109,106 53,325 162.431 287,912 57,365 5,562 163 63,090 351,00 ↑
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