41,940 The following summarized data (amounts in millions) are taken from the September 27, 2014, and September 28, 2013, comparative financial statements of Apple Inc., a manufacturer of mobile communication and media devices, personal computers, portable digital music players, and seller of a variety of related software, services, accessories, networking solutions, and third-party digital content and applications: (Amounts Expressed in Millions) For the Fiscal Years Ended September 27 and September 28, respectively: 2014 2013 Net sales $ 108,400 $ 65,370 Costs of sales 64,580 39,690 Operating income 33,950 18,530 Net income $ 26,050 $ 14,160 At Year End: Assets Current assets: Cash and cash equivalents $ 9,580 $ 10,630 Short-term marketable securities 16,280 14,510 Accounts receivable, less allowances of $84 and $99, respectively 5,520 5,670 Inventories 930 1,200 Deferred tax assets 2,170 1,780 Vendor nontrade receivables 6,500 4,560 Other current assets 4,680 3,590 Total current assets 45,660 Long-term marketable securities 85,770 25,540 Property, plant, and equipment, net 7,930 22,670 Goodwill 1,060 890 Acquired intangible assets, net 3,690 490 Other assets 3,710 2,410 Total assets $ 147,820 $ 93,940 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ $ 12,160 Accrued expenses 9,400 5,870 Deferred revenue 4,250 3,130 Commercial paper 6,548 Total current liabilities 34,978 21,160 Deferred revenue-noncurrent 1,840 1,290 Long-term debt 23,452 17,760 Other noncurrent liabilities 10,260 5,680 Total liabilities 70,530 45,890 Shareholders' Equity: Common stock and additional paid-in capital, $0.00001 par value, 1,900,000 shares authorized; 929,430 and 916,130 shares issued and outstanding, respectively 13,490 10,810 Retained earnings 63,200 37,320 Accumulated other comprehensive income (loss) 600 (-80) Total shareholders' equity 77,290 48,050 Total liabilities and shareholders' equity $ 147,820 $ 93,940 14,780 At September 29, 2012, total assets were $47,820 and total shareholders' equity was $31,800. 2014 $ 108,400 64,580 33,950 $ 26,050 2013 $ 65,370 39,690 18,530 $ 14,160 (Amounts Expressed in Millions) For the Fiscal Years Ended September 27 and September 28, respectively: Net sales Costs of sales Operating income Net income At Year End: Assets Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $84 and $99, respectively Inventories Deferred tax assets Vendor nontrade receivables Other current assets Total current assets Long-term marketable securities Property, plant, and equipment, net Goodwill Acquired intangible assets, net Other assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued expenses Deferred revenue Commercial paper Total current liabilities Deferred revenuenoncurrent Long-term debt Other noncurrent liabilities Total liabilities Shareholders' Equity: Common stock and additional paid-in capital, $0.00001 par value, 1,900,000 shares authorized; 929,430 and 916,130 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity $ 9,580 16,280 5,520 930 2,170 6,500 4,680 45,660 85,770 7,930 1,060 3,690 3,710 $ 147,820 $ 10,630 14,510 5,670 1,200 1,780 4,560 3,590 41,940 25,540 22,670 890 490 2,410 $ 93,940 $ 14,780 9,400 4,250 6,548 34,978 1,840 23,452 10,260 70,530 $ 12,160 5,870 3,130 0 21,160 1,290 17,760 5,680 45,890 13,490 63,200 600 77,290 $ 147,820 10,810 37,320 (-80) 48,050 $ 93,940 Required: a. Calculate Apple Inc.'s working capital, current ratio, and acid-test ratio at September 27, 2014, and September 28, 2013. (Round your ratio answers to 1 decimal place. Enter "Working capital" in million of dollars.) 2014 2013 Working capital Current ratio Acid-test ratio b. Calculate Apple's ROE for the years ended September 27, 2014, and September 28, 2013. (Round your answers to 1 decimal place.) 2014 2013 ROE % % C. Calculate Apple's ROI, showing margin and turnover, for the years ended September 27, 2014, and September 28, 2013. (Round "Turnover" answers to 2 decimal places. Round your percentage answers to 1 decimal place.) 2014 2013 ROI % % % % Margin Turnover