Question: For Apple fiscal year 2022, complete the attached spreadsheet showing their audited 2022 net income, as well as the unaudited quarterly net income for the
- For Apple fiscal year 2022, complete the attached spreadsheet showing their audited 2022 net income, as well as the unaudited quarterly net income for the year.
- Find the income statement page. Highlight net income in yellow and attach just that page.
- Find the note for quarterly net income. Highlight quarterly net income and the word unaudited in green and attach just that page.
- Choose another company of your choice. Please complete all the spreadsheet cells for that company in the column to the right of Apple.
- Attach the full annual report for the other company.
- Attach items 2 and 3 for the other company.
- After completing the work above do you better understand why auditors do not need to highlight that the quarterly information is unaudited? Explain.
- Explain what a limited procedure is in the context of quarterly information.
- Comment on anything else you observed or learned while doing this assignment.
| Company 2 | ||
| Company Name | Apple | |
| Net Income, USD | In millions | |
| 2022 (or most recent year) audited | ||
| Unaudited: | ||
| Quarter 1 | ||
| Quarter 2 | ||
| Quarter 3 | ||
| Quarter 4 | ||
| Quarterly totals | ||
| Audited minus quarterly totals | ||
| Should equal zero. Does it? |
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