tal shareholders' equity, beginning balances mmon stock and additional paid-in capital: $ September 25, 2021 65,339 $ Years ended September 26, 2020 90,488 $ Sept

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Make an analysis of the Consolidated Statements of operations. Are the sales increasing or decreasing? Is the net income increasing or decreasing? Are the basic Earnings Per Share increasing or decreasing? (Also connect with the Consolidated Statements of Shareholders’ Equity). Consider the reasonableness of your answer.

Total shareholders' equity, beginning balances
Common stock and additional paid-in capital:
Beginning balances
Apple Inc.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(In millions, except per share amounts)
Common stock issued
Common stock withheld related to net share settlement of equity awards
Share-based compensation
Ending balances
Retained earnings:
Beginning balances
Net income
Dividends and dividend equivalents declared
Common stock withheld related to net share settlement of equity awards
Common stock repurchased
Cumulative effects of changes in accounting principles
Ending balances
Accumulated other comprehensive income/(loss):
Beginning balances
Other comprehensive income/(loss)
Cumulative effects of changes in accounting principles
Ending balances
Total shareholders' equity, ending balances
Dividends and dividend equivalents declared per share or RSU
$
$
60
September 25,
2021
65,339
50,779
1,105
(2,627)
8,108
57,365
14,966
94,680
(14,431)
(4,151)
(85,502)
5,562
(406)
569
163
$
63,090 $
0.85 $
Years ended
September 26,
2020
90,488
45,174
880
(2,250)
6,975
50,779
45,898
57,411
(14,087)
(1,604)
(72,516)
(136)
14,966
(584)
42
136
(406)
$
65,339 $
0.795 $
September 28,
2019
107,147
40,201
781
(2,002)
6,194
45,174
70,400
55,256
(14,129)
(1,029)
(67,101)
2,501
45,898
(3,454)
2,781
89
(584)
90,488
0.75
Transcribed Image Text:Total shareholders' equity, beginning balances Common stock and additional paid-in capital: Beginning balances Apple Inc. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (In millions, except per share amounts) Common stock issued Common stock withheld related to net share settlement of equity awards Share-based compensation Ending balances Retained earnings: Beginning balances Net income Dividends and dividend equivalents declared Common stock withheld related to net share settlement of equity awards Common stock repurchased Cumulative effects of changes in accounting principles Ending balances Accumulated other comprehensive income/(loss): Beginning balances Other comprehensive income/(loss) Cumulative effects of changes in accounting principles Ending balances Total shareholders' equity, ending balances Dividends and dividend equivalents declared per share or RSU $ $ 60 September 25, 2021 65,339 50,779 1,105 (2,627) 8,108 57,365 14,966 94,680 (14,431) (4,151) (85,502) 5,562 (406) 569 163 $ 63,090 $ 0.85 $ Years ended September 26, 2020 90,488 45,174 880 (2,250) 6,975 50,779 45,898 57,411 (14,087) (1,604) (72,516) (136) 14,966 (584) 42 136 (406) $ 65,339 $ 0.795 $ September 28, 2019 107,147 40,201 781 (2,002) 6,194 45,174 70,400 55,256 (14,129) (1,029) (67,101) 2,501 45,898 (3,454) 2,781 89 (584) 90,488 0.75
Net sales:
Products
Services
Total net sales
Cost of sales:
Products
Services
Total cost of sales
Gross margin
Operating expenses:
Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
Research and development
Selling, general and administrative
Total operating expenses
Operating income
Other income/(expense), net
Income before provision for income taxes
Provision for income taxes
Net income
Earnings per share:
Basic
Diluted
Shares used in computing earnings per share:
Basic
Diluted
$
$
$
$
September 25,
2021
297,392
68,425
365,817
192,266
20,715
212,981
152,836
21,914
21,973
43,887
$
108,949
258
109,207
14,527
94,680 $
5.67 $
5.61 $
16,701,272
16,864,919
Years ended
September 26,
2020
220,747 $
53,768
274,515
151,286
18,273
169,559
104,956
18,752
19,916
38,668
66,288
803
67,091
9,680
57,411 $
3.31 $
3.28 $
17,352,119
17,528,214
September 28,
2019
213,883
46,291
260,174
144,996
16,786
161,782
98,392
16,217
18,245
34,462
63,930
1,807
65,737
10,481
55,256
2.99
2.97
18,471,336
18,595,651
Transcribed Image Text:Net sales: Products Services Total net sales Cost of sales: Products Services Total cost of sales Gross margin Operating expenses: Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Research and development Selling, general and administrative Total operating expenses Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income Earnings per share: Basic Diluted Shares used in computing earnings per share: Basic Diluted $ $ $ $ September 25, 2021 297,392 68,425 365,817 192,266 20,715 212,981 152,836 21,914 21,973 43,887 $ 108,949 258 109,207 14,527 94,680 $ 5.67 $ 5.61 $ 16,701,272 16,864,919 Years ended September 26, 2020 220,747 $ 53,768 274,515 151,286 18,273 169,559 104,956 18,752 19,916 38,668 66,288 803 67,091 9,680 57,411 $ 3.31 $ 3.28 $ 17,352,119 17,528,214 September 28, 2019 213,883 46,291 260,174 144,996 16,786 161,782 98,392 16,217 18,245 34,462 63,930 1,807 65,737 10,481 55,256 2.99 2.97 18,471,336 18,595,651
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