05 Feb Review the instructions for the SEC 10-K project. This week’s report focuses on the Income Statement. Review the discussion board in week two on the Income Statement. (ATTACHED)
- Review the instructions for the SEC 10-K project. This week's report focuses on the Income Statement.
- Review the discussion board in week two on the Income Statement. (ATTACHED)
- Write a brief report of at least one page in whole paragraphs. You may use bullet points.
- This report will assist you in the final SEC 10-K project deliverables.
- Submit it as a Word document.
Requirements
The report should include the following:
- Sections or line items of the Income Statement include but are not limited to:
- Revenue (Sales)
- Cost of Goods Sold
- Gross Profit
- Indicate if this is a Single-Step or Multi-Step Income Statement based on our course resources
- Expenses; include unusual items or significant changes for the three-year period
- Income Tax Expense (Benefit)
- Net Income or Loss
- Do not include EPS (Earnings per Share) or any per share values.
Below you will find the significant line items for Apple Inc. stating the past three years presented Shareholders Equity.
https://www.sec.gov/ix?doc=/Archives/edgar/data/320193/000032019322000108/aapl-20220924.htm
The beginning balance for each year are as follows: (all information are in millions except share amounts)
Beginning Balance
2020: 45,174
2021: 50,779
2022: 64,849
Common Stock numbers are as follows:
2020: 50,779
2021: 57,365
2022: 64,849
Retained Earnings or (Accumulated Deficit) are as follows:
2020: 14,966
2021: 5,562
2022: (3,068)
Accumulated Other Comprehensive Income or (Loss) are as follows:
2020: (406)
2021: 163
2022: (11,109)
Net income or (Loss) are as follows:
The thing that stood out to me the most is the consistency in the common stock increase. When I first saw the assignment my initial thought was there will be a huge spike in common stock numbers for the previous years because they had a stock splits but, the numbers look pretty consistent. I’m not sure to stock splits affect the common stock but, I’ll definitely will be looking deeper into that in the future.
