Question
Describe how and why each of the ratios has changed over the three-year period. For example, did the current ratio increase or decrease? Why? Describe
Describe how and why each of the ratios has changed over the three-year period. For example, did the current ratio increase or decrease? Why? Describe how three of the ratios you calculated for your company compare to the general industry.
Below is apple Balance sheet for 2017, 2016,2015
Report Date
9/30/2017
9/24/2016
9/26/2015
Cash & cash equivalents
20,289,000
20,484,000
21,120,000
Short-term marketable securities
53,892,000
46,671,000
20,481,000
Accounts receivable, gross
17,932,000
15,807,000
16,931,000
Allowances
58,000
53,000
82,000
Accounts receivable, net
17,874,000
15,754,000
16,849,000
Finished goods
-
2,132,000
2,349,000
Inventories
4,855,000
2,132,000
2,349,000
Deferred tax assets
-
-
5,546,000
Vendor non-trade receivables
17,799,000
13,545,000
13,494,000
Other current assets
13,936,000
8,283,000
9,539,000
Total current assets
128,645,000
106,869,000
89,378,000
Long-term marketable securities
194,714,000
170,430,000
164,065,000
Land & buildings
13,587,000
10,185,000
6,956,000
Machinery, equipment, & internal-use software
54,210,000
44,543,000
37,038,000
Leasehold improvements
7,279,000
6,517,000
5,263,000
Gross property, plant & equipment
75,076,000
61,245,000
49,257,000
Accumulated depreciation & amortization
41,293,000
34,235,000
26,786,000
Property, plant & equipment, net
33,783,000
27,010,000
22,471,000
Goodwill
5,717,000
5,414,000
5,116,000
Acquired intangible assets, net
2,298,000
3,206,000
3,893,000
Other non-current assets
10,162,000
8,757,000
5,556,000
Total assets
375,319,000
321,686,000
290,479,000
Accounts payable
49,049,000
37,294,000
35,490,000
Accrued expenses
25,744,000
22,027,000
25,181,000
Deferred revenue
7,548,000
8,080,000
8,940,000
Commercial paper
11,977,000
8,105,000
8,499,000
Current portion of long-term debt
6,496,000
3,500,000
2,500,000
Total current liabilities
100,814,000
79,006,000
80,610,000
Deferred revenue - non-current
2,836,000
2,930,000
3,624,000
Floating & fixed-rate notes
104,021,000
78,384,000
55,701,000
Total debt
104,021,000
78,384,000
55,701,000
Unamortized discount
-225,000
-174,000
-114,000
Hedge accounting fair value adjustments
-93,000
717,000
376,000
Less: current portion of long-term debt
6,496,000
3,500,000
2,500,000
Long-term debt
97,207,000
75,427,000
53,463,000
Deferred tax liabilities
31,504,000
26,019,000
24,062,000
Other non-current liabilities
8,911,000
10,055,000
9,365,000
Other non-current liabilities
40,415,000
36,074,000
33,427,000
Total liabilities
241,272,000
193,437,000
171,124,000
Common stock
35,867,000
31,251,000
27,416,000
Retained earnings
98,330,000
96,364,000
92,284,000
Cumulative foreign currency translation
-354,000
-578,000
-653,000
Unrecognized gains (losses) on derivative instruments
-124,000
38,000
772,000
Unrealized gains (losses) on marketable securities
328,000
1,174,000
-464,000
Accumulated other comprehensive income (loss)
-150,000
634,000
-345,000
Total shareholders' equity
134,047,000
128,249,000
119,355,000
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Options Futures and Other Derivatives
Authors: John C. Hull
10th edition
013447208X, 978-0134472089
