The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1.

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The following data were included in a recent Apple Inc. annual report ($ in millions):

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Required:

1. Compute Apple?s fixed asset turnover ratio for 2015, 2016, and 2017. Round your answers to two decimal points.

2. How might a financial analyst interpret the results?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Financial Accounting

ISBN: 978-1259964947

10th edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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