Chapter 1, Problem 73.3C

To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

Requirement-a:

To Indicate:

The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016.

Answer to Problem 73.3C

The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 are as follows:

Apple Inc.	Year 2016
	Million $
Total Assets	321,686
Total Liabilities	193,437
Total Stockholder's Equity	128,249

Explanation of Solution

The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 can be found in the Consolidated Balance sheet as follows:

Apple Inc.	Year 2016
	Million $
Total Assets	321,686
Total Liabilities	193,437
Total Stockholder's Equity	128,249

To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

Requirement-b:

To Indicate:

The change in the amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 as compared with the last year.

Answer to Problem 73.3C

The change in the amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 as compared with the last year is as follows:

Apple Inc.	Change
	Million $
Total Assets	31,341
Total Liabilities	22,447
Total Stockholder's Equity	8,894

Explanation of Solution

The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 and 2015 can be found in the Consolidated Balance sheet as follows:

Apple Inc.	Year 2016	Year 2015	Change
	Million $	Million $	Million $
Total Assets	321,686	290,345	31,341
Total Liabilities	193,437	170,990	22,447
Total Stockholder's Equity	128,249	119,355	8,894

To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

Requirement-c:

To Indicate:

The amount of Current assets and current Liabilities of Apple Inc. for the years presented in the annual report for the year 2016.

Answer to Problem 73.3C

The amount of Current assets and current Liabilities of Apple Inc. for the years presented in the annual report for the year 2016 are as follows:

Apple Inc.	Year 2016	Year 2015
	Million $	Million $
Current Assets	106,869	89,378
Current Liabilities	79,006	80,610

Explanation of Solution

The amount of Current assets and current Liabilities of Apple Inc. for the years presented in the annual report for the year 2016 can be found in the Consolidated Balance sheet as follows:

Apple Inc.	Year 2016	Year 2015
	Million $	Million $
Current Assets	106,869	89,378
Current Liabilities	79,006	80,610

To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

Requirement-d:

To Indicate:

The liquidity of Apple Inc. for the years presented in the annual report for the year 2016.

Answer to Problem 73.3C

The liquidity of Apple Inc. for the years presented in the annual report for the year 2016 is shown as follows:

Apple Inc.	Year 2016	Year 2015
Current Ratio	1.35	1.11

Apple inc. has improved its liquidity in the year 2016.

Explanation of Solution

The liquidity of Apple Inc. for the years presented in the annual report for the year 2016 is shown as follows:

Apple Inc.	Year 2016	Year 2015
	Million $	Million $
Current Assets (A)	106,869	89,378
Current Liabilities (B)	79,006	80,610
Current Ratio (A/B)	1.35	1.11

Hence, Apple inc. has improved its liquidity in the year 2016.