Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Below are Apple's most recent financial statements. Use them to answer the following questions INCOME STATEMENT - USD ($) Sales Cost of goods sold
Below are Apple's most recent financial statements. Use them to answer the following questions INCOME STATEMENT - USD ($) Sales Cost of goods sold Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income/(expense), net Income before provision for income taxes Income tax expenses Net income BALANCE SHEETS- USD ($) Assets: Cash and cash equivalents Marketable securities Accounts receivable Inventories Property, plant and equipment, net Other assets Total assets Liabilities Accounts payable Deferred revenue Notes Payable Other non-current liabilities Total liabilities Shareholders' equity: Contributed Capital Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ $ $ $ $ $ $ $ $ $ 31-Dec-22 316,199 $ 201,471 $ 803 $ 69,364 $ (19,300) $ 50,064 $ 26,251 $ 19,916 $ 46,167 $ 68,561 $ $ 31-Dec-21 S $ $ 297,392 192,266 21,914 18,245 40,159 64,967 1,807 66,774 (14,527) 52,247 31-Dec-22 31-Dec-21 $ 23,646 $ 34,940 $ 153,814 $ 157,054 S 21,120 $ 24,926 5,261 $ 36,766 $ 75,111 $ 315,718 $ 6,380 37,378 68,208 328,886 $ 42,296 $ 46,236 $ 6,643 $ 5,522 $ 112,436 $ 108,047 $ 97,174 $ 88,223 $ 258,549 $ 248,028 $ 50,779 $ 45,174 35,684 $ 6,390 $ $ 57,169 $ 80,858 $315,718 $ 328,886 Question 12 What is Apple's inventory turnover ratio for 2022? Round to two decimal points. Question 13 How many days on average did it take Apple to sell its inventory in 2022? Round to two decimal points. Question 14 What is Apple's accounts receivable turnover ratio for 2022? Round to two decimal points.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the inventory turnover ratio we need to use the formula Inventory turnover ratio Cost o...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