Apple Financial Statement Analysis

754 Words 4 Pages
Group Assignment Four Corporate Financial Statements
Apple Inc.
Leading business through “reportable operating segments… [in] the Americas, Europe, Greater China, Japan, and [parts] of Asia,” (Apple Inc. 2015, p. 2) through highly intelligent, premium technological advances such as wearables, 3D Touch, the iPad, iOS, and more, Apple brand products are on the bleeding edge of innovation, supporting modern corporations, start-ups, professionals, and individuals alike. A corporation amassing, “approximately 110,000 full-time equivalent employees,” and nearly 65% of total net sales during the 2015 fiscal year taking place internationally, the household brand holds interest for many investors (Apple Inc., 2015, p. 6-7). Recent legal debates with the FBI regarding a request for back-door entrance into the San Bernardino shooter’s locked iPhone,
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“The income statement is sometimes referred to as the profit and loss statement (P&L), statement of operations, or statement of income,” (Averkamp, n.d.). An income statement shows the profitability of a company over a specific amount of time. The time frame used is chosen by the company and varies from business to business. The gross profit, which is net sales minus the cost of goods sold for Apple Inc. has increased from $64,304,000 in 2013 to $93,626,000 in 2015 (“AAPL Income,” 2016). Net income is the concluding balance on the income statement. The net income is a company’s total profit or earnings for that fiscal year. In 2013, Apple Inc. had a net income of $37,037,000 which increased to $39,510,000 in 2014 (“AAPL Income,” 2016). This is a small increase compared to the increase between 2014 and 2015. With a $13,884,000 difference between 2014 and 2015, Apple Inc. had a net income of $53,394,000 in 2015 (“AAPL Income,” 2016). The income statement shows us how fast Apple Inc.’s profits are growing over a small amount of

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