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Refer to Apple's financial statements in Appendix A to answer the following. Apple Inc. CONSOLIDATED BALANCE SHEETS ( In millions, except number of shares which

Refer to Apple's financial statements in Appendix A to answer the following. Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value) Complete this question by entering your answers in the tabs below.
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Compute the current ratio and acid-test ratio as of September 24,2022, and September 25,2021.
Note: Enter your answers in millions of dollars.
\table[[$ millions,2022,2021],[\table[[Current],[Ratio]],\table[[Acid-Test],[Ratio]],\table[[Current],[Ratio]],\table[[Acid-Test],[Ratio]]],[Current assets],[Cash and equivalents],[Marketable securities (current)],[Accounts receivables, net],[Inventories, net],[Vendor non-trade receivables],[Other current assets],[Total current assets,$,,$,],[Total quick assets,,$,,$],[Total current liabilities],[Ratio,0,0,,]] Assessment Tool iFrame
tion by entering your answers in the tabs below.
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Does Apple's 2022 current ratio outperform or underperform the (assumed) industry average of 1.5?
Apple's 2022 current ratio Complete this question by entering your answers in the tabs below.
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Does Apple's 2022 acid-test ratio outperform or underperform the (assumed) industry average of 1.0?
Apple's 2022 acid-test ratioApple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
September 24,2022
September 25,2021
ASSETS
\table[[Current assets],[Cash and cash equivalents,$,23,646,$,34,940],[Marketable securities,,24,658,,27,699],[Accounts receivable, net,,28,184,,26,278],[Inventories,,4,946,,6,580],[Vendor nontrade receivables,,32,748,,25,228],[Other current assets,,21,223,,14,111],[Total current assets,,135,405,,134,836],[Non-current assets],[Marketable securities,,120,805,,127,877],[Property, plant and equipment, net,,42,117,,39,440],[Other noncurrent assets,,54,428,,48,849],[Total noncurrent assets,,217,350,,216,166],[Total assets,$,352,755,$,351,002]]
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
\table[[Accounts payable,64,115,54,763],[Other current liabilities,60,845,47,493],[Deferred revenue,7,912,7,612],[Commercial paper,9,982,6,000],[Term debt,11,128,9,613],[Total current liabilities,153,982,125,481],[Non-current liabilities],[Term debt,98,959,109,106],[Other noncurrent liabilities,49,142,53,325,],[Total noncurrent liabilities,148,101,162,431],[Total liabilities,302,083,287,912],[Commitments and contingencies],[Shareholders' equity],[\table[[Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares],[authorized; 15,943,425 and 16,426,786 shares issued and outstanding, respectively]],64,849,57,365],[Retained earnings (Accumulated deficit),(3,068),5,562,],[Accumulated other comprehensive income (loss),(11,109),163],[Total shareholders' equity,50,672,63,090],[Total liabilities and shareholders' equity,352,755,351,002]]
See accompanying Notes to Consolidated Financial Statements.
Complete this question by entering your answers in the tabs below.
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Assume that the amounts reported for inventories and cost of sales reflect items purchased in a form ready for resale.
Compute the net cost of goods purchased for the year ended September 24,2022.
Note: Enter your answers in millions of dollars.
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