Financial Statement& Analysis Evaluation Case study

Content Type

User Generated

User

yvfny999

Subject

Business Finance

Description

Apple assignment
Complete thebalance sheet of Apple, Inc. for years 2012-2016. That includes completing the
retained earnings and the flexible financing account for each year.
Compute FCF forall years 2007-2016 and show your calculation clearly on the spreadsheet.
(Note: You will have to use a different method to compute FCF in 2007-2011 and
in 2012-2016.)
Show thedisposition of FCF for all years.
Compute FCFEfor years 2007 through 2011.
Show thedisposition of FCFE for years 2007 through 2011.
Submit yourworksheet as an email attachment. I will need an electronic copy so that I can
see the formulas in the individual cells
Appropriatepenalty for poorly organized or poorly presented results.

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AAPL - Historical and Projected Financial Statements INCOME STATEMENT Net Sales Cost of Sales Gross Margin Operating Expenses: Research and Development Selling, General, and Administrative Total Operating Expenses Operating Income(EBIT) Other Income and Expense Income Before Income Tax(EBT) Income Taxes 63,0% 3,8% 25,0% Net Income (Loss) BALANCE SHEET ASSETS: Cash and Cash Equivalents Short-term Marketable Securities Accounts Receivable Inventories Deferred Tax Assets 2.007 24.578 16.426 8.152 2.008 37.491 24.294 13.197 2.009 42.905 25.683 17.222 2.010 65.225 39.541 25.684 2.011 108.249 64.431 43.818 2.012 167.786 105.705 62.081 782 2.963 3.745 1.109 3.761 4.870 1.333 4.149 5.482 1.782 5.517 7.299 2.429 7.599 10.028 6.375 11.074 17.449 4.407 599 5.006 1.511 8.327 620 8.947 2.828 11.740 326 12.066 3.831 18.385 155 18.540 4.527 33.790 415 34.205 8.283 44.632 643 45.275 11.319 3.495 6.119 8.235 14.013 25.922 33.956 2.007 10,0% 5,0% 7,2% 1,38% 9.352 6.034 1.637 346 788 2.008 11.875 10.236 2.422 509 1.044 2.009 5.263 18.201 3.361 455 1.135 2.010 11.261 14.359 5.510 1.051 1.636 2.011 9.815 16.137 5.369 776 2.014 2.012 10.798 16.943 5.756 789 2.014 Other Current Assets Total Current Assets Long-term Marketable Securities Property, Plant and Equipment Goodwill Net Acquired Intangible Assets Other Assets Total Assets LIABILITIES AND EQUITY: Accounts Payable Accruals Deferred Income Total Current Liabilities 6,97% 0,57% 0,69% 10,00% 10,00% Non-current Deferred Income Other Non-current Liabilities Total Liabilities Flexible Financing Account AFN, (Surplus) 3.544 21.701 3.920 30.006 3.140 31.555 7.861 41.678 10.877 44.988 10.877 47.177 － 1.832 38 299 1.008 24.878 2.379 2.455 207 285 839 36.171 10.528 2.954 206 247 2.011 47.501 25.391 4.768 741 342 2.263 75.183 55.618 7.777 896 3.536 3.556 116.371 55.618 8.320 900 3.536 59.174 174.725 4.970 3.023 1.113 9.106 5.520 4.224 1.617 11.361 5.601 3.852 2.053 11.506 12.015 5.723 2.984 20.722 14.632 9.247 4.091 27.970 16.096 10.172 4.091 30.359 554 687 10.347 768 1.745 13.874 853 3.502 15.861 1.139 5.531 27.392 1.686 10.100 39.756 1.686 10.100 42.145 － Common Stock(no par value, 1,800,000,000 shares authorized) 5.368 Retained Earnings 9.100 Accumulated Other Comp Income/Loss 63 Total Common Equity 14.531 Total Liabilities and Equity 24.878 －－－－ 7.177 15.129 (9) 22.297 8.210 23.353 77 31.640 10.668 37.169 (46) 47.791 13.331 62.841 443 76.615 13.331 36.171 47.501 75.183 116.371 174.725 (15) l Statements 2.013 248.322 156.444 91.878 2.014 337.721 212.763 124.958 2.015 449.169 282.975 166.194 2.016 597.395 376.357 221.038 9.436 17.877 27.313 12.831 24.992 37.823 17.070 35.933 53.003 22.703 46.598 69.301 64.565 952 65.517 16.379 87.135 1.295 88.430 22.107 113.191 1.722 114.913 28.728 151.737 2.290 154.027 38.507 49.138 66.323 86.185 115.520 2.013 11.876 17.788 6.170 801 2.014 2.014 13.066 18.679 6.611 811 2.014 2.015 14.371 19.614 7.090 822 2.014 2.016 15.807 20.595 7.601 831 2.014 10.877 49.526 10.877 52.058 10.877 54.788 10.877 57.725 55.618 8.899 905 3.536 59.174 177.658 55.618 9.519 910 3.536 59.174 180.815 55.618 10.181 916 3.536 59.174 184.213 55.618 10.892 921 3.536 59.174 187.866 17.705 11.189 4.091 32.985 19.473 12.309 4.091 35.873 21.423 13.539 4.091 39.053 23.566 14.890 4.091 42.547 1.686 10.100 44.771 1.686 10.100 47.659 1.686 10.100 50.839 1.686 10.100 54.333 13.331 13.331 13.331 13.331 (15) 177.658 (15) 180.815 (15) 184.213 (15) 187.866 AAPL - Historical and Projected Financial Statements INCOME STATEMENT Net Sales Cost of Sales Gross Margin Operating Expenses: Research and Development Selling, General, and Administrative Total Operating Expenses Operating Income(EBIT) Other Income and Expense Income Before Income Tax(EBT) Income Taxes 63.0% 3.8% 25.0% Net Income (Loss) BALANCE SHEET ASSETS: Cash and Cash Equivalents Short-term Marketable Securities Accounts Receivable Inventories Deferred Tax Assets 2,007 24,578 16,426 8,152 2,008 37,491 24,294 13,197 2,009 42,905 25,683 17,222 2,010 65,225 39,541 25,684 2,011 108,249 64,431 43,818 2,012 167,786 105,705 62,081 782 2,963 3,745 1,109 3,761 4,870 1,333 4,149 5,482 1,782 5,517 7,299 2,429 7,599 10,028 6,375 11,074 17,449 4,407 599 5,006 1,511 8,327 620 8,947 2,828 11,740 326 12,066 3,831 18,385 155 18,540 4,527 33,790 415 34,205 8,283 44,632 643 45,275 11,319 3,495 6,119 8,235 14,013 25,922 33,956 2,007 10.0% 5.0% 7.2% 1.38% 9,352 6,034 1,637 346 788 2,008 11,875 10,236 2,422 509 1,044 2,009 5,263 18,201 3,361 455 1,135 2,010 11,261 14,359 5,510 1,051 1,636 2,011 9,815 16,137 5,369 776 2,014 2,012 10,798 16,943 5,756 789 2,014 Other Current Assets Total Current Assets Long-term Marketable Securities Property, Plant and Equipment Goodwill Net Acquired Intangible Assets Other Assets Total Assets LIABILITIES AND EQUITY: Accounts Payable Accruals Deferred Income Total Current Liabilities 6.97% 0.57% 0.69% 10.00% 10.00% Non-current Deferred Income Other Non-current Liabilities Total Liabilities Flexible Financing Account AFN, (Surplus) 3,544 21,701 3,920 30,006 3,140 31,555 7,861 41,678 10,877 44,988 10,877 47,177 － 1,832 38 299 1,008 24,878 2,379 2,455 207 285 839 36,171 10,528 2,954 206 247 2,011 47,501 25,391 4,768 741 342 2,263 75,183 55,618 7,777 896 3,536 3,556 116,371 55,618 8,320 900 3,536 59,174 174,725 4,970 3,023 1,113 9,106 5,520 4,224 1,617 11,361 5,601 3,852 2,053 11,506 12,015 5,723 2,984 20,722 14,632 9,247 4,091 27,970 16,096 10,172 4,091 30,359 554 687 10,347 768 1,745 13,874 853 3,502 15,861 1,139 5,531 27,392 1,686 10,100 39,756 1,686 10,100 42,145 － Common Stock(no par value, 1,800,000,000 shares authorized) 5,368 Retained Earnings 9,100 Accumulated Other Comp Income/Loss 63 Total Common Equity 14,531 Total Liabilities and Equity 24,878 －－－－ 7,177 15,129 (9) 22,297 8,210 23,353 77 31,640 10,668 37,169 (46) 47,791 13,331 62,841 443 76,615 13,331 36,171 47,501 75,183 116,371 174,725 (15) l Statements 2,013 248,322 156,444 91,878 2,014 337,721 212,763 124,958 2,015 449,169 282,975 166,194 2,016 597,395 376,357 221,038 9,436 17,877 27,313 12,831 24,992 37,823 17,070 35,933 53,003 22,703 46,598 69,301 64,565 952 65,517 16,379 87,135 1,295 88,430 22,107 113,191 1,722 114,913 28,728 151,737 2,290 154,027 38,507 49,138 66,323 86,185 115,520 2,013 11,876 17,788 6,170 801 2,014 2,014 13,066 18,679 6,611 811 2,014 2,015 14,371 19,614 7,090 822 2,014 2,016 15,807 20,595 7,601 831 2,014 10,877 49,526 10,877 52,058 10,877 54,788 10,877 57,725 55,618 8,899 905 3,536 59,174 177,658 55,618 9,519 910 3,536 59,174 180,815 55,618 10,181 916 3,536 59,174 184,213 55,618 10,892 921 3,536 59,174 187,866 17,705 11,189 4,091 32,985 19,473 12,309 4,091 35,873 21,423 13,539 4,091 39,053 23,566 14,890 4,091 42,547 1,686 10,100 44,771 1,686 10,100 47,659 1,686 10,100 50,839 1,686 10,100 54,333 13,331 13,331 13,331 13,331 (15) 177,658 (15) 180,815 (15) 184,213 (15) 187,866