6 01:54:21 eBook Refer to Apple's financial statements in Appendix A to answer the following. Required 1. Assume that the amounts reported for inventories and cost of sales reflect items purchased in a form ready for resale. Compute the net cost of goods purchased for the year ended September 28, 2019. 2. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. 3. Does Apple's 2019 current ratio outperform or underperform the (assumed) industry average of 1.5? 4. Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) Industry average of 1.0? Complete this question by entering your answers in the tabs below. Print eferences Required 1 Required 2 Required 3 Required 4 Assume that the amounts reported for inventories and cost of sales reflect items purchased in a form ready for resale. Compute the net cost of goods purchased for the year ended September 28, 2019. (Enter your answers in millions of dollars.) Cost of goods purchased Required 1 Required 2 8 net cost of goods purchased for the year ended September 28, 2019. 2. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. 3. Does Apple's 2019 current ratio outperform or underperform the (assumed) industry average of 1.5? 4. Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) industry average of 1.0? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. (Enter your answers in millions of dollars.) $ millions Current assets Cash and equivalents Marketable securities (current) Accounts receivables, net Inventories, net Vendor non-trade receivables Other current assets Total current assets Total quick assets Total current liabilities Ratio 2019 2018 Current Ratio Acid-Test Ratio Current Acid-Test Ratio Ratio $ 0 $ 0 $ 0 $ 0 0 0 < Required 1 0 Required 3 > 0 Current assets CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) Cash and cash equivalents Marketable securities. Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities Term debt Other non-current liabilities Total non-current liabilities Total liabilities ASSETS September 28, 2019 September 29, 2018 48,844 S 25,913 51,713 40,388 22,926 23,186 4,106 3,956 22,878 25,809 12.352 12,087 162,819 131,339 105,341 170,799 37,378 41,304 32,978 22,283 175,697 234,386 338,516 365,725 LIABILITIES AND SHAREHOLDERS' EQUITY 46,236 55,888 37,720 33,327 5,522 5.966 5,980 11,964 10,260 8,784 105,718 115,929 91,807 93,735 50,503 48,914 142,310 142,649 248,028 258,578 Commitments and contingencies - Shareholders' equity Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively 45,174 40,201 Retained earnines 45.898 70.400 APP Other current assets Total current assets Non-current assets Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets Current liabilities Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity 22,878 25,809 12,352 12,087 162,819 131,339 105,341 170,799 37,378 41,304 32,978 22,283 175,697 234,386 338,516 365,725 LIABILITIES AND SHAREHOLDERS' EQUITY 46,236 55,888 37,720 33,327 5,522 5,966 5,980 11,964) 10,260 8,784 105,718 115,929 91,807 93,735 50,503 48.914 142,310 142,649 248,028 258,578 Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectively 45.174 40,201 Retained earnings 45,898 70,400 Accumulated other comprehensive income (loss) (584) (3,454) Total shareholders' equity 90,488 107,147 Total liabilities and shareholders' equity 338,516 365,725 See accompanying Notes to Consolidated Financial Statements