Broadening Your Perspective 18-1 Your parents are considering investing in Apple

Question

Broadening Your Perspective 18-1 Your parents are considering investing in Apple Inc. common stock. They ask you, as an accounting expert, to make an analysis of the company for them. To access Apple's Form 10-K, including notes to the financial statements, follow these steps: 1. Go to 2. Select the Financial Information tab. 3. Select the 10-K annual report dated September 28, 2013. 4. The notes to Consolidated Financial Statements begin on page 50. (a1l) Make a 3-year trend analysis using 2011 as the base year of net sales and net income. Enter amounts in millions. Round percentage answers to 0 decimal places, eg. 12% APPLE, INC. Trend Analysis of Net Sales and Net Income For the Three Years Ended 2013 2013 2012 2011 Net sales Net sales Trend Net income Net income Trend

Explanation / Answer

(b)

(a) ($ in millions) 2013 2012 2011 Net Sales $ 170910 $ 156508 $ 108249 Net sales trend 158% 145% 100% Net income $ 37037 $ 41733 $ 25922 Net income trend 143% 161% 100%

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