week 2 reply
kiace1
first student
Laura Wathen
Hi everyone,
The company that I have chosen was Apple Inc. This is the direct link for Apple Inc 2020 10-K.
What is the Description and Dollar Value of the first line on the Income Statement (it may be net sales)?
The first line what appears on the Income Statement based on the description and dollar value is net sales but it is classified in two which are products and services. But in this case, products is the first one that appears in the description with $220.747 on September 26, 2020.
Locate the Balance Sheet (it may have a different heading, such as the Statement of Financial Position).
The Balance Sheet is on page 33.
What are the names of the assets and their values (if more than five line items, report only the first five line items and dollar values)?
The first five name of the assets with their values are:
| ASSETS | September 26, 2020 (In millions) |
| Cash and cash equivalents | $ 38,016 |
| Marketable securities | $ 52,927 |
| Accounts receivable, net | $ 16,120 |
| Inventories | $ 4,061 |
| Vendor non-trade receivables | $ 21,325 |
Statement of Owner’s Equity: Post the line items and dollar values in the "Equity" section of the balance sheet. You will likely findline items including Common Stock, Retained Earnings (or Deficit), and Treasury Stock.
| Statement of Owner’s Equity | September 26, 2020 |
| Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,976,763 and 17,772,945 shares issued and outstanding, respectively. | $50,779 |
| Retained earnings | $14,966 |
| Accumulated other comprehensive income/(loss) | $(406) |
| Total shareholders’ equity | $65,339 |
What is the Net Income (or Net Loss) for your SEC 10-K company?
The Net Income for Apple Inc 2020 10-K is $57,453 (In millions)
SECOND STUDENT
Branden
Good Evening Class,
Please follow the following link for Carmax's 10-K: Carmax, Inc 10-K
The description of the first line on the income statement is labeled "Sales and Operating Revenues." The first line under this description is for Carmax's used vehicle sales. The dollar value for the first line under this description is $15,713,583. This is down $1,455,879 compared to Carmax's 2020 10-K statement, which is $17,169,462.
The names of the assets and values found on the balance sheet are as followed: Cash and cash equivalents; $132,319 Restricted cash from collections on auto loans receivable; $496,415 Accounts receivable, net; $239,070 Inventory; $3,157,159 Other current assets; $91,833
The line items and dollar values from the equity section of the balance sheet are as followed: Common stock, $0.50 per value; 350 million shares authorized; 163,172,333 and 163,091,376 shares issued and outstanding as of February 28, 2021; $81,586 Capital in excess of par value; $1,513,821 Accumulated other comprehensive loss; $118,691 Retained earnings; $2,887,897 Total Shareholders' equity; $4,364,613 Total Liabilities and Shareholders' equity; $21,541,541
The Net Income on Carmax's 2021 10-K is $778,299. (in thousands)
Let me know if you have any questions.
