Question

Jason has been hired to evaluate the consolidated statement of operations of Apple Corporation. Do the...

  1. Jason has been hired to evaluate the consolidated statement of operations of Apple Corporation.
    1. Do the following:
      1. How is Apple performing? You must support your answer.
      2. Compute the earnings per share for the three years presented.
      3. Prepare vertically integrated consolidated statements of operations for the three years presented.
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions 12 Months Ended
Sep. 29, 2018 Sep. 30, 2017 Sep. 24, 2016
Income Statement [Abstract]
Net sales $ 265,595 $ 229,234 $ 215,639
Cost of sales 163,756 141,048 131,376
Gross margin 101,839 88,186 84,263
Operating expenses:
Research and development 14,236 11,581 10,045
Selling, general and administrative 16,705 15,261 14,194
Total operating expenses 30,941 26,842 24,239
Operating income 70,898 61,344 60,024
Other income/(expense), net 2,005 2,745 1,348
Income before provision for income taxes 72,903 64,089 61,372
Provision for income taxes 13,372 15,738 15,685
Net income $ 59,531 $ 48,351 $ 45,687
Common stock outstanding 4,955,377 5,217,242 5,470,820
Business   Accounting   
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Answer #1
Earning per share Net profit – Preference Dividend
No of the outstanding share
2018 2017 2016
Net Profit 59531000 48351000 45681000
Outstanding share 4955377 5217242 5470820
EPS 1.20 0.93 0.83

Earnings per share as a metric is extremely important to measure the company’s profitability. A consistently growing EPS means that the investor is getting a share of a company’s growing profits consistently. Growing EPS also indicates that the company is creating value for its investors.

EPS is increasing continuously from last year. This is a good sign for growth. The company is providing good return to its equity holders.

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