a. What do the accounting policies say in the annual report (footnotes) regarding the cost of revenue? What are the drivers to the cost of revenue and the trends?b. Are there any trends in sales and marketing expenses or research and development? Are these amounts reasonable for the type of business?c. Compare general and administrative expenses to similar companies. Are they reasonable?d. What is the ratio of net interest income (expense) to income from operations? Is this a safe ratio for the company? Why or why not? APPLE INCIncome statement horizontal analysis2 quarters1st quarter2nd quarterdessuobs25,2021December 26.202026,202127,2020Netsalespraducts104429956786394846529services19516157611748613156tatal net sales1239451114398143459685Cast of salesProducts64309621304089932693Services5393498152804312Total cost of sales69702671114617937005Grass margin54243443283525522680Operating expensesResearch and development6306516357174758Selling, general and administrativeTotal operating expenses64495631541248311275510794111299589Operating incomeather income(expense), net41488335342412613091-2474524346income before provision for income taxespravision for income taxes412413357924369131376611482426251884net income34630287552174411253earnings per shareBasic2.111.71.310.65Diluted2.11.681.30.65 APPLE INCBALANCE SHEET"DECEMBER 25TH 2021amount insfirst quarterSecond quarter25-Dec-21 25-Sep-21june 26,20 26-Sep-20ASSETSCurrent assetsCash and cash equivalentsMariet securitiesAccounts receivable, netInventoriesVendor non trade receivablesOther current assetsTetal curent asets37119 3494034050 3801626794 2769927646 5292730213 2627817475 161205876 65805178406135040 2522816433 2132518112 1411113641 11264153154 134836114423 143713Non current assetsMarketable securitiesProperty,plant and equipment,netOther non current assersTetal non current assetsTetal assets138683 127877131948 10088739245 3944038615 36766S0109 4884944854 42522228037 216166215417 180175381191 351002329840 32388LIABILITIES AND STAKEHOLDERS EQUITYCurrent liabilitiesAcoounts payable74362547634040942296Other current liabilities49167474934362542684Deffered revenue7876761276816643Commercial paper5000600080004996Term debt111699613B0398773Total current liabilities147574 125481107754 105392Non curret liabiliesTerm debt106529 10910610575298667Other non current liabilities55056533255205454490Tatal non current liabilitis161685 162431157806 153157Total liabilities309259 287912265560 258549SHAREHOLDERS EQUITYCommon stpck58424573655498950779Retained earnings144355562923314996Accumulated other comprehensive income92716358406Total shareholdersequity71932630906428065369Totalliabilities and shareholders equity381191 351002329840 323918

Accounting policies are the policies and standards for the presentation of the financial transaction…

a. What do the accounting policies say in the annual report (footnotes) regarding the cost of revenue? What are the drivers to the cost of revenue and the trends? b. Are there any trends in sales and marketing expenses or research and development? Are these amounts reasonable for the type of business? c. Compare general and administrative expenses to similar companies. Are they reasonable? d. What is the ratio of net interest income (expense) to income from operations? Is this a safe ratio for the company? Why or why not?

a. What do the accounting policies say in the annual report (footnotes) regarding the cost of revenue? What are the drivers to the cost of revenue and the trends? b. Are there any trends in sales and marketing expenses or research and development? Are these amounts reasonable for the type of business? c. Compare general and administrative expenses to similar companies. Are they reasonable? d. What is the ratio of net interest income (expense) to income from operations? Is this a safe ratio for the company? Why or why not?

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 3.3C

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