Question: The income statement for Apple Inc. is shown below with numbers in US$ billions: Apple Inc. Income Statement (in US$ billions) 2017 2018 2019 2020

The income statement for Apple Inc. is shown below with numbers

The income statement for Apple Inc. is shown below with numbers in US$ billions: Apple Inc. Income Statement (in US$ billions) 2017 2018 2019 2020 260 275 229 141 88 266 164 102 162 170 98 105 17 20 22 28 Fiscal Year Income statement: Revenue COGS Gross profit (GP) Selling, gen. & admin. (SGA) expenses Depreciation & amort EBIT Net int expenses Profit before taxes (PBT) Taxes Net income (NI) 10 11 13 11 61 71 64 66 -3 -2 -2 -1 64 67 73 13 66 10 55 16 48 10 60 57 Calculate the cash flow to creditors (CFC) for 2019 if the company paid $3 billion in interest and increased net new borrowing by $8 billion

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