FSA 1-1. Use Apple ComputerInc.” balancesheetsgiven hereto answerthe questions.( LO 5)
AppleComputer Inc.
Condense balance Sheets
(in millions)
| Assets | At 9/24/O5 | 9/l25/04 |
| Cash and cash equivalents | $ 3,491 | $ 2,969 |
| Short-term investments | 4,770 | 2,495 |
| Accountsreceivable(n et) | 895 | 774 |
| Inventories | 165 | 101 |
| Other current assets | 979 | 716 |
| Total current assets
| 1 0,300 | 7,055 |
| Property, plantand equipment( net) | 817 | 707 |
| Goodwill | 69 | 80 |
| Other assets | 365 | 208 |
| Total assets | $11,551 | $8,050 |
Liabilities and Shareholders” Equity:
| Accounts payable | $ 1,779 | $ t,qst |
| Accrued expenses | 1,705 | 1,200 |
| Total current liabilities | 3,484 | 2,651 |
| Other noncurrent liabilities | 601 | 323 |
| Total liabilities | 4,085 | 2,974 |
| Common stock | 3,521 | 2,514 |
| Retained earnings | 4,005 | 2,670 |
| Other equity accounts | (60) | (1 08) |
| Totals shareholders” equity | 7,46 | 5,076 |
| Total liabilities and shareholders equity | $11,551 | $ 8,0s0 |
Required
a. What date marks the end of Apple”s most recent fiscal year?
b. Did Apple earn a net income or net loss during the year? How can you tell?
c. Did the owners of Apple make any capital contributions during the year (or did
Apple get some new owners)?
d. Did Apple buy or sell any property, plant, or equipment during the year? How can you tell?
e. On the last day of the fiscal year, did Apple have any debts? If so, what was the total amount?
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