Answered step by step
Verified Expert Solution
Question
1 Approved Answer
At the end of 2017, Apple had cash and short-term investments of $73.89 billion, accounts receivable of $18.06 billion, current assets of $128.57 billion, and
At the end of 2017, Apple had cash and short-term investments of $73.89 billion, accounts receivable of $18.06 billion, current assets of $128.57 billion, and current liabilities of $100.81
billion.
a. What was Apple's current ratio?
b. What was Apple's quick ratio?
c. What was Apple's cash ratio?
d. At the end of 2017, HPQ had a cash ratio of 0.34, a quick ratio of 0.49
and a current ratio of 0.99. What can you say about the asset liquidity of Apple relative to HPQ?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started