Refer to Apple's financial statements in Appendix A to answer parts 1 and 2.

1. Identify the note that reports on Apple's business segments.

2. Describe the focus and activities of each of Apple's business segments.

3. In a recent year, Apple reported the following operating income and average segment assets (which exclude shared corporate assets) for its geographic segments. Compute Apple's return on assets for each of its geographic segments. Assess the relative performance of the five segments shown here.

Apple's financial statements from Appendix A

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$millilons Americas Europe Greater China Japan Rest of Asla Paclfic $3,753 918 $22,817 Operating Income. Average assets $13,025 3,115 $8,541 2,132 $6,819 2,315 5,589