An I TH 70 AS randum Our Or Analysis of liquidity and profitability measures of Apple Inc. The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Inc a company that designs, manufactures, and markets mobile communication and media devices and personal computers, sells a variety of related software, services, accessories, networking solutions, and offers third-party digital content and applications: page 92 2017 2016 $229,234 114,048 61,344 $ 48,351 $215,639 131,376 60.024 $ 45,687 $ 20.289 53,892 17,874 $ 20,484 46,671 15.754 (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: let sales osts of sales perating income let income * Year End: Assets Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $58 and $53, respectively Inventories Vendor nontrade receivables Other current assets Total current assets ong-term marketable securities roperty, plant, and equipment, net joodwill cquired intangible assets, net Other assets Total assets iabilities and Shareholders' Equity current liabilities: Accounts payable 2,132 4,855 17.799 13.545 8.283 13.936 128.645 194,714 33,783 5.717 2,298 10,162 $375,319 106.869 170,430 27.010 5.414 3.206 8,757 5321,686 $49.049 $ 37.294 2017 2016 (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities referred revenue-noncurrent ong-term debt Other noncurrent liabilities Total liabilities 25,744 7.548 11.977 6,496 100,814 22,027 8,080 8,105 3.500 79.006 2,836 2.930 97,207 75,427 36,074 40,415 241,272 193.437 35,867 31,251 hareholders' equity: common stock and additional paid-in capital $0.00001 par value: 12,600,000 shares authorized: 5,126,201 and 5,336,166 shares issued and outstanding, respectively 98.330 96,364 (150) 634 Setained earnings ccumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity 134.047 128,249 $375,319 S321,686 At September 26, 2015, total assets were $290,345 and total shareholders' equity was $119,355. Required: a. Calculate Apple ina's working capital current ratio, and acid-test ratio at September 30, 2017, and September 24, 2016. Round your ratio answers to two decimal places. b. Calculate Apple's ROE for the years ended September 30, 2017 and September 24, 2016. Round your percentage answers to one decimal place c Calculate Apple's ROI showing margin and turnover, for the years ended September 30, 2017, and September 24, 2016. Round your turnover calculations to two decimal places. Round your margin and ROI percentages to one decimal place. page 9 d. Evaluate the company's overall liquidity and profitability. Optional continuation of Case 3.24-trend analysis The following historical data were derived from Apple Inc.'s consolidated financial statemente (in millions): e. Calculate Apple Inc.'s total liabilities for each year presented above. f. Are the trends expressed in these data generally consistent with each other? g. In your opinion, which of these trends would be most meaningful to a potential investor in common stock of Apple Inc.? Which trend would be least meaningful? h. What other data (trend or otherwise) would you like to have access to before making an investment in Apple Inc