Refer to Apple’s financial statements in Appendix A for

Required

1. What amount of total liabilities does Apple report for each of the fiscal years ended (a) September 24, 2016, and (b) September 26, 2015?

2. What amount of total assets does it report for each of the fiscal years ended (a) September 24, 2016, and (b) September 26, 2015?

3. Compute its debt ratio for each of the fiscal years ended (a) September 24, 2016, and (b) September 26, 2015. (Report ratio in percent and round it to one decimal.)

4. In which fiscal year did it employ more financial leverage: September 24, 2016, or September 26, 2015? Explain.