Find the following ratios and explain what each one tells you from the following income statement and balance sheet: Return on Assets: Return on Equity: Total asset turnover: Current ratio: debt ratio: Apple computer income statement and balance sheet CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 29, 2012 Net sales $156,508 Cost of sales 87,846 Gross margin 68,662 Operating expenses: Research and development 3,381 Selling, general and administrative 10,040 Total operating expenses 13,421 Operating income 55,241 Other income/(expense), net 522 Income before provision for income taxes 55,763 Provision for income taxes 14,030 Net income $ 41,733 Earnings per share: Basic $44.64 Diluted $44.15 Shares used in computing earnings per share: Basic 934,818 Diluted 945,355 Diluted 945,355 Cash dividends declared per common share $ 2.65 See accompanying Notes to Consolidated Financial Statements CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands) September 29, 2012 ASSETS: Current assets: Cash and cash equivalents $ 10,746 Short-term marketable securities 18,383 Accounts receivable, less allowances of $98 and $53, respectively 10,930 Inventories 791 Deferred tax assets 2 583 Inventories 791 Deferred tax assets 2,583 Vendor non-trade receivables 7,762 Other current assets 6,458 Total current assets 57,653 Long-term marketable securities 92,122 Property, plant and equipment, net 15,452 Goodwill 1,135 Acquired intangible assets, net 4,224 Other assets 5,478 Total assets $176,064 LIABILITIES AND SHAREHOLDERS' EQUITY: LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 21,175 Accrued expenses 11,414 Deferred revenue 5,953 Total current liabilities 38,542 Deferred revenue- non-current 2,648 Other non-current liabilities 16,664 Total liabilities 57,854 Commitments and contingencies Shareholders' equity: Common stock, no par value; 1,800,000 shares authorized; 939,208 and 929,277 shares issued and 16,422 Shareholders' equity: Common stock, no par value; 1,800,000 shares authorized; 939,208 and 929,277 shares issued and outstanding, respectively 16,422 Retained earnings 101,289 Accumulated other comprehensive income 499 Total shareholders' equity 118,210 Total liabilities and shareholders' equity $ 176,064 See accompanying Notes to Consolidated Financial Statements Previous Next