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Balance Sheet Data Apple Inc.

Year A / P	2012 Actual	2013 Actual	2014 Actual	2015 Actual	2016 Actual	2017 Projected	2018 Projected	2019 Projected	2020 Projected	2021 Projected
Cash	-	-	25,077	41,601	67,155	-	-	-	-	-
Cash (%)
AccountReceivable	-	-	17,460	16,849	15,754	-	-	-	-	-
AccountReceivable (%)
Inventories	-	-	2,111	2,349	2,132	-	-	-	-	-
Inventories (%)
PrepaidExpenses	-	-	-	-	-	-	-	-	-	-
PrepaidExpenses (%)
AccountsPayable	-	-	30,196	35,490	37,294	-	-	-	-	-
AccountsPayable (%)
AccruedLiabilities	-	-	6,480	25,181	22,027	-	-	-	-	-
AccruedLiabilities (%)
CapitalExpenditure	-	-	-9,813	-11,488	-13,548	-	-	-	-	-
CapitalExpenditure (%)

Year A / P	2012 Actual	2013 Actual	2014 Actual	2015 Actual	2016 Actual
Cash	-	-	25,077	41,601	67,155
Cash (%)
AccountReceivable	-	-	17,460	16,849	15,754
AccountReceivable (%)
Inventories	-	-	2,111	2,349	2,132
Inventories (%)
PrepaidExpenses	-	-	-	-	-
PrepaidExpenses (%)
AccountsPayable	-	-	30,196	35,490	37,294
AccountsPayable (%)
AccruedLiabilities	-	-	6,480	25,181	22,027
AccruedLiabilities (%)
CapitalExpenditure	-	-	-9,813	-11,488	-13,548
CapitalExpenditure (%)

Year A / P	2017 Projected	2018 Projected	2019 Projected	2020 Projected	2021 Projected
Cash	-	-	-	-	-
Cash (%)
AccountReceivable	-	-	-	-	-
AccountReceivable (%)
Inventories	-	-	-	-	-
Inventories (%)
PrepaidExpenses	-	-	-	-	-
PrepaidExpenses (%)
AccountsPayable	-	-	-	-	-
AccountsPayable (%)
AccruedLiabilities	-	-	-	-	-
AccruedLiabilities (%)
CapitalExpenditure	-	-	-	-	-
CapitalExpenditure (%)

To support growth, companies need to keep investing in capital items – including property, plants and equipment. To calculate this net investment,we take capital expenditure (found in the company’s statement of cash flows) and subtract non-cash depreciation (found on the income statement). Working capital refers to the cash a company needs for day-to-day operations. The faster a company expands, the more cash it will need. To calculate working capital, we take current assets and subtract current liabilities. You can find both of these on a company’s balance sheet, which is published in its quarterly and annual financial statements.

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