Apple Inc., has the following abridged financial statement information for fiscal year 2019 and 2020 ($ in billions):
Income Statement 2019 2020 Balance Sheet 2019 2020
Sales 259.97 274.15 Cash 28.12 19.98
Cost of Goods Sold 162.26 170.14 Marketable Securities 72.46 71
Gross Profit 97.71 104.01 Accounts Receivable 45.8 37.45
SG&A Exp. 34.46 38.67 Inventory 4.11 4.06
Interest Expense 3.58 2.87 Total Current Assets 162.82 143.71
Income Before Tax 65.74 67.09 Fixed Assets 37.38 45.34
Income Tax Expense 10.48 9.68 Total Assets 338.52 323.89
Net Income 55.26 57.41 Accounts Payable 46.24 42.3
Notes Payable 16.24 15.23 Total Current Liabilities 105.72 105.39
Long-Term Debt 91.81 107.05
Cash Flow Statement 2019 2020 Total Liabilities 248.03 258.55
Cash Flows from Operations 69.39 80.67 Retained Earnings 45.9 14.97
Cash Flows from Investing 45.9 -4.29 Common Equity 90.49 65.34
Cash Flows from Financing -90.98 -86.82 Total Equity 90.49 65.34
On 12/31/2020, Apple had 16,790,000,000 shares outstanding and stock price of $132.69. Apple issued dividends $0.84 per share.
a. Apple's net operating profit after tax (NOPAT) in 2020 is .
b. Apple's return on net operating assets in 2020 is .
c. The following is additional information obtained from Apple’s 2020 financial reports:
The company reports unrealized gains on marketable debt securities $1.14 billion.
The company reports a foreign currency translation gain $0.09 billion.
The company reports a gain on postretirement benefits adjustment $0.04 billion.
The company reported unrealized losses on derivative instruments $1.19 billion.
Apple's comprehensive income in 2020 is .
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 00:00, koolja3
Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)
Answers: 2
Business, 22.06.2019 13:30, ayoismeisalex
On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?
Answers: 3
Business, 22.06.2019 17:30, Nikcoli
Which of the following services will be provided by a full-service broker but not by a discount broker? i. research of potential investment opportunities ii. purchase and sale of stock at your request iii. recommendation of investments a. i and iii b. ii only c. iii only d. i, ii, and ii
Answers: 2
Do you know the correct answer?
Apple Inc., has the following abridged financial statement information for fiscal year 2019 and 2020...
Questions in other subjects:
Mathematics, 30.07.2019 03:00
Mathematics, 30.07.2019 03:00
Social Studies, 30.07.2019 03:00
History, 30.07.2019 03:00
English, 30.07.2019 03:00
