Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current ratios and some related data for Apple Inc. in the last two fiscal years are as follows: 2012 2013 Current Ratio 1.50 1.68 Net

Current ratios and some related data for Apple Inc. in the last two fiscal years are as follows: 2012 2013 Current Ratio 1.50 1.68 Net Sales ($ millions) 156,508 170,910 Cash & Equivalents ($ millions) 10,746 14,259 Short Term Marketable Securities ($ millions) 18,383 26,287 Accounts Receivable, net ($ millions) 10,930 13,102 Other Current Assets ($ millions) 17,594 19,638 Long Term Marketable Securities ($ millions) 92,122 106,215 Current Liabilities ($ millions) 38,542 43,658 Profit Margin ($ millions) 26.67% 21.67% What is the best explanation for the increase in the current ratio in 2013

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

Payroll Accounting

Authors: Bernard J. Bieg, Judith Toland

21st Edition

1111531056, 978-1111531058

More Books

Students also viewed these Accounting questions

Question

8. How can an interpreter influence the message?

Answered: 1 week ago