Apple Inc., has the following abridged financial statement information for fiscal year 2019 and 2020 ($ in billions): Income Statement 2019 2020 Balance Sheet 2019 2020
Sales 259.97 274.15 Cash 28.12 19.98
Cost of Goods Sold 162.26 170.14 Marketable Securities 72.46 71
Gross Profit 97.71 104.01 Accounts Receivable 45.8 37.45
SG&A Exp. 34.46 38.67 Inventory 4.11 4.06
Interest Expense 3.58 2.87 Total Current Assets 162.82 143.71
Income Before Tax 65.74 67.09 Fixed Assets 37.38 45.34
Income Tax Expense 10.48 9.68 Total Assets 338.52 323.89
Net Income 55.26 57.41 Accounts Payable 46.24 42.3
Notes Payable 16.24 15.23 Total Current Liabilities 105.72 105.39
Long-Term Debt 91.81 107.05
Cash Flow Statement 2019 2020 Total Liabilities 248.03 258.55
Cash Flows from Operations 69.39 80.67 Retained Earnings 45.9 14.97
Cash Flows from Investing 45.9 -4.29 Common Equity 90.49 65.34
Cash Flows from Financing -90.98 -86.82 Total Equity 90.49 65.34
On 12/31/2020, Apple had 16,790,000,000 shares outstanding and stock price of $132.69. Apple issued dividends $0.84 per share.
a. Apple's net operating profit after tax (NOPAT) in 2020 is .
b. Apple's return on net operating assets in 2020 is .
c. The following is additional information obtained from Apple’s 2020 financial reports:
The company reports unrealized gains on marketable debt securities $1.14 billion.
The company reports a foreign currency translation gain $0.09 billion.
The company reports a gain on postretirement benefits adjustment $0.04 billion.
The company reported unrealized losses on derivative instruments $1.19 billion.
Apple's comprehensive income in 2020 is .