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 $73.88 billion, accounts receivable of $18.12 billion, current assets of $128.78 billion, and

At the end of 2017, Apple had cash and short-term investments of $73.88 billion, accounts receivable of $18.12 billion, current assets of $128.78 billion, and current liabilities of $100.38 billion. (Round to two decimal places.)

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 0.36, a quick ratio of 0.51 and a current ratio of 1.03. 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 with AI-Powered 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

Students also viewed these Finance questions