The financial statements of Apple Inc. are presented in Appendix A at the end of this textbook. Instructions for accessing and using the company’s complete annual report, including the notes to the financial statements, are also provided in Appendix A.

Instructions

Answer the questions below using Apple’s Consolidated Balance Sheets.

(a) What were Apple’s total current assets at September 28, 2013, and September 29, 2012?

(b) Are assets that Apple included under current assets listed in proper order? Explain.

(c) How are Apple’s assets classified?

(d) What was Apple’s “Cash and cash equivalents” at September 28, 2013?

(e) What were Apple’s total current liabilities at September 28, 2013, and September 29, 2012?