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.

$\backslash$table$[[$$ millions,$2022,2021],[\backslash$table$[[$Current$],[$Ratio$]],\backslash$table$[[$Acid$-$Test$],[$Ratio$]],\backslash$table$[[$Current$],[$Ratio$]],\backslash$table$[[$Acid$-$Test$],[$Ratio$]]],[$Current assets$],[$Cash and equivalents$],[$Marketable securities $($current$)],[$Accounts receivables, net$],[$Inventories$,$ net$],[$Vendor non$-$trade receivables$],[$Other current assets$],[$Total current assets,$$,,$$$,],[$Total quick assets,,$$,,$$$],[$Total current liabilities$],[$Ratio$,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 $1\mathrm{.}5?$

Apple's $2022$ current ratio Complete this question by entering your answers in the tabs below.

Required $4$

Does Apple's $2022$ acid$-$test ratio outperform or underperform the $($assumed$)$ industry average of $1\mathrm{.}0?$

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

$\backslash$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

$\backslash$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$\text{'}$ equity$],[\backslash$table$[[$Common stock and additional paid$-$in capital, $$0\mathrm{.}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.

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Required $2$

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.