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 Date9/30/20179/24/20169/26/2015
Cash & cash equivalents20,289,00020,484,00021,120,000
Short-term marketable securities53,892,00046,671,00020,481,000
Accounts receivable, gross 17,932,00015,807,00016,931,000
Allowances58,00053,00082,000
Accounts receivable, net17,874,00015,754,00016,849,000
Finished goods-2,132,0002,349,000
Inventories4,855,0002,132,0002,349,000
Deferred tax assets--5,546,000
Vendor non-trade receivables17,799,00013,545,00013,494,000
Other current assets13,936,0008,283,0009,539,000
Total current assets128,645,000106,869,00089,378,000
Long-term marketable securities194,714,000170,430,000164,065,000
Land & buildings13,587,00010,185,0006,956,000
Machinery, equipment, & internal-use software54,210,00044,543,00037,038,000
Leasehold improvements7,279,0006,517,0005,263,000
Gross property, plant & equipment 75,076,00061,245,00049,257,000
Accumulated depreciation & amortization41,293,00034,235,00026,786,000
Property, plant & equipment, net33,783,00027,010,00022,471,000
Goodwill5,717,0005,414,0005,116,000
Acquired intangible assets, net2,298,0003,206,0003,893,000
Other non-current assets10,162,0008,757,0005,556,000
Total assets375,319,000321,686,000290,479,000
Accounts payable 49,049,00037,294,00035,490,000
Accrued expenses25,744,00022,027,00025,181,000
Deferred revenue7,548,0008,080,0008,940,000
Commercial paper11,977,0008,105,0008,499,000
Current portion of long-term debt6,496,0003,500,0002,500,000
Total current liabilities100,814,00079,006,00080,610,000
Deferred revenue - non-current2,836,0002,930,0003,624,000
Floating & fixed-rate notes104,021,00078,384,00055,701,000
Total debt104,021,00078,384,00055,701,000
Unamortized discount-225,000-174,000-114,000
Hedge accounting fair value adjustments-93,000717,000376,000
Less: current portion of long-term debt6,496,0003,500,0002,500,000
Long-term debt97,207,00075,427,00053,463,000
Deferred tax liabilities31,504,00026,019,00024,062,000
Other non-current liabilities8,911,00010,055,0009,365,000
Other non-current liabilities40,415,00036,074,00033,427,000
Total liabilities241,272,000193,437,000171,124,000
Common stock35,867,00031,251,00027,416,000
Retained earnings98,330,00096,364,00092,284,000
Cumulative foreign currency translation-354,000-578,000-653,000
Unrecognized gains (losses) on derivative instruments-124,00038,000772,000
Unrealized gains (losses) on marketable securities328,0001,174,000-464,000
Accumulated other comprehensive income (loss)-150,000634,000-345,000
Total shareholders' equity 134,047,000128,249,000119,355,000
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