Answered step by step
Verified Expert Solution
Link Copied!

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Institutional Asset Management

Authors: Frank J Fabozzi, Francesco A Fabozzi

1st Edition

9811220034, 9789811220036

More Books

Students also viewed these Finance questions

Question

=+(2.9) PUAK =EP(A) - EP(ANA,) k=1 i

Answered: 1 week ago