QUESTION 29 Current Ratio: (text book pages 559-560, 565) a. Calculate the Current ratio. (SHOW YOUR WORK. Calculate ratio to three decimal places.) b. Does this ratio appear favorable or unfavorable? Why? For the toolbar. press ALT+F10 (PC) or ALT+FN+F10 (Mac). Apple Inc. CONSOLIDATED BALANCE SHEETS millions, except number of shares which are reflected in thousands and par value) September 26, September 29, ASSETS: Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets 48.844 .61,713 22,926 4,106 22 878 12,352 02.819 25.913 40,388 23,186 3.956 25,800 12.087 131,339 Non-current assets Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets 105,341 37,378 32,978 175 697 338,516 170,799 41,304 22 283 234,386 365,725 $ 5 LIABILITIES AND SHAREHOLDERS' EQUITY: $ Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities 46,236 37.720 5,522 5,980 10,260 105,718 55,888 33,327 5.986 11,964 8,784 115,929 162,819 = 1.5 10 5,718 Non-current liabilities. Term debt Other non-current liabilities Total non-current liabilities Total liabilities 91,807 50,503 142,310 248,028 93.735 48,914 142,849 258,578 Commitments and contingencies Shareholders' equity Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized: 4443,236 and 4,754,986 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity 45,174 45,898 (584) 90,488 338,516 40,201 70,400 (3,454) 107,147 365,725 S See accompanying Notes to Consolidated Financial Statements