Chapter 13, Problem 1BTN

Refer to Apple’s financial statements in appendix A to answer the following.

1. Using fiscal 2011 as the base year, company trend percents for fiscal years 2011,2012, and 2013 for net sales, cost of sales, operating income, other(expenses) net, provision for income taxes, and net income.(Round percents to one decimal.)

2. Compute common-size percents for fiscal year 2012 and 2013 for the following categories of assets:

(a) Total current assets, (b) property, plant and equipment net and (c) goodwill plus acquired intangible assets, net. (Round percents computed to one decimal.)

3. Compute on any notable changes across the year for the income statement trends computed in part 1 and the balance sheet percents computed in part 2.

Fast forward

4 . Access Apple’s financial ststements for fiscal years ending after September 28, 2013, from its website (Apple.com) or SEC database (www.SEC.com) update your work for part 1, 2, and 3 using the new information accend.