The financial statements of Apple Inc. are presented in Appendix A. Instructions Refer to Apples financial statements and answer the following questions. a. What were Apples total assets at September 30, 2017? At September 24, 2016? b. How much cash (and cash equivalents) did Apple have on September 30, 2017? c. What amount of accounts payable did Apple report on

Chapter 1, Critical Thinking #1

The financial statements of Apple Inc. are presented in Appendix A.

Instructions

Refer to Apple’s financial statements and answer the following questions.

a. What were Apple’s total assets at September 30, 2017? At September 24, 2016?

b. How much cash (and cash equivalents) did Apple have on September 30, 2017?

c. What amount of accounts payable did Apple report on September 30, 2017? On September 24, 2016?

d. What were Apple’s net sales in the year ending September 30, 2017? In the year ending September 24, 2016? In the year ending September 26, 2015?

e. What is the amount of the change in Apple’s net income from 2016 to 2017?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...