Horizontal Analysis, Apple Inc. Particulars (in millions) FY2020 FY2019 Absolute Change Percentage change Total Assets 351,002,000 323,888,000 27,114,000 8.37% Current Liabilities 125,481,000 105,392,000 20,089,000 19.06% Gross Revenue 152,836,000 104,956,000 47,880,000 45.62% Net Income 94,680,000 57,411,000 37,269,000 64.92% Apple Inc. total assets increased from 2020 to 2021 fiscal year. This indicates that the company’s trend is increasing, and the company is likely to realize probable future economic benefits obtained by the entity due to its past transactions. The company’s trend in current liabilities shows an increase in accounts payable, current portion of finances leases, commercial paper, current portion of term debt and deferred revenue increased, indicating the significant increase of current liabilities by 19.06%. The company realized an increase in gross revenue by 45.62%, and net income increased by 64.92% from the previous fiscal year. The trend indicates that the company reports better than expected sales from a year earlier