Refer to the financial statements of Apple Inc. in Appendix A.

Instructions

Answer the following questions.

a. What were Apple's total current liabilities at September 26, 2020? What was the increase/decrease in Apple's total current liabilities from the prior year?

b. How much were the accounts payable at September 26,2020 ?

c. What were the components of total current liabilities on September 26, 2020.

Data from Appendix A

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Net sales: Products Services Total net sales Cost of sales: Products Services Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) 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 Years ended September 26, September 28, September 29, 2020 2019 2018 $ 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 $ 213,883 46,291 260,174 144,996 16,786 161,782 98,392 16,217 18,245 34,462 63,930 1,807 65,737 10,481 55,256 $ 225,847 39,748 265,595 $ 148,164 15,592 163,756 101,839 14,236 16,705 30,941 70,898 2,005 72,903 13,372 59,531