Apple, Inc Income Statement For the 12 months ending; 9/26/2015 9/27/2014 9/28/2013 Revenue Cost of Revenue 170,910 (99.850) 233,715 15 182,795 Gross Profit 78,483 71,060 104,883 Selling, General & Adm Expenses Research & Development Depreciation 14,329 8,067 11,257 11,993 6,041 7,946 10,830 4,475 6,757 Total Operating Expenses 33,653 71,230 1,285 72,515 25,980 52,503 980 53,483 (13,973) 39,510 22,062 48,998 1,157 50,155 (13,118) 37,037 Operating Income Other income-net of expenses Income before tax Provision for income taxes et income 53,394 Balance Sheet as of 9726/2015 9/2772014 9/282013 41,601 30,343 25,0 27,219 546 20,641 1,764 Cash & Equivalents Accounts Receivable 2,111 2,349 15,085 89,3786 49,257 22,471 Inventory Prepaid Expenses 10,335 68,531 73,286 28,519 16,597 14,124 Other Current Assets Total Current Assets 39,015 (18,391) ( 20,624 Property, Plant&Equipment (Gross) (11,922) Accumulated Depreciation Property, Plant&Equipment (Net) 5,756 8,758 130,162 3,764 9,009 Goodwill/Intangibles (net of amortization) 106,215 Other Long Term Investments 5,146 207,000 22,367 Other Long Term Assets 5,556 Total Assets 290,479231,839 30,196 Accounts Payable Accrued Expenses Notes Payable/Short Term Debt Current portion of LTD/Capital Leases Other Current Liabilities 35,490 24,169 8,499 2,500 7,689 4,782 0 308 19,255 63,448 16,509 43,658 16,960 Total Current Liabilities 80,610 Long Term Debt Deffered Income Tax Other Liabilities 53,463 24,062 12,989 28,987 20,259 7,598 16,489 6,344 83,451 19,293 Total Liabilities 171,124 120,292 Common Stock Retained Earnings 27,071 92,284 24,395 87,152 104,256 123,549 207,000 6,294 Total Stockholders Equity 119,355 111, Total Liabilities and Stockholders Equity 290,479 231,839 Total Common Shares outstanding (in millions) Share Price as of year end 5,579 $114.71 $100.75 5,866 $65.67 B. C. D. Lack of capital Short term need; no need or desire to keep the product No resources to properly maintain the product or Apple for 2013-2015. Please calculate Financial Ratios. Attached are financial statements f the following ratios for 2015. A few of the ratios encourage the use of averages. the beginning of year amount and the year-end amounts. For example, if you were the average amount of Accounts Receivable for 2015, add the 2015 year-end amount On those, use calculating to the 2014 year end amount and take the average. You ill get one point for having the formula (reasonably) correct and one point for the correct answer Please show the formula first and show all your work. I want to be able to give partial credit if you have the formula right but used the wrong numbers. I will not accept answers without supporting calculations. Formula Calculated answer 18-19. Current ratio Formula Calculated answer 20-21. Quick/Asset Test Formula Calculated answer 22-23. Cash ratio Formula Calculated answer 24-25. Gross Profit ($) Formula Calculated answer 26-27. Gross Margin (%)