Required 1. 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 28, 2019. 2. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. 3. Does Apple's 2019 current ratio outperform or underperform the (assumed) industry average of 1.5? 4. Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) industry average of 1.0? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. (Enter your answers in millions of dollars.) $ millions 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 2019 2018 Current Ratio Acid-Test Ratio Current Ratio Acid-Test Ratio + Required 1 Required 3 > Prev 1 of 1 Next Check Refer to Apple's financial statements in Appendix A to answer the following. Required 1. 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 28, 2019. 2. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. 3. Does Apple's 2019 current ratio outperform or underperform the (assumed) industry average of 1.5? 4. Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) industry average of 1.0? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 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 28, 2019. (Enter your answers in millions of dollars.) Cost of goods purchased Prey 1 of 1 Next Refer to Apple's financial statements in Appendix A to answer the following. Required 1. 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 28, 2019. 2. Compute the current ratio and acid-test ratio as of September 28, 2019, and September 29, 2018. 3. Does Apple's 2019 current ratio outperform or underperform the (assumed) industry average of 1.5? 4. Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) industry average of 1.0? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3. Required 4 Does Apple's 2019 acid-test ratio outperform or underperform the (assumed) industry average of 1.0? Apple's 2019 acid-test ratio < Required 3 Required 4 Prey 1 of 1 Next > APPLE Years ended Net sales: Products Services Total net sales Cost of sales: Products Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) September 28, 2019 213,883 46,291 260,174 September 29, 2018 225,847 $ 39,748 265,595 September 30, 2017 196,534 32,700 229,234 Services Total cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income (expense), net Income before provision for income taxes Provision for income taxes Net income Earnings per share: 144,996 148,164 126-337 16,786 15,592 14,711 161,782. 163,756 141,048 98,392 101,839 88,186 16,217 14,236 11,581 18,245 16,705 15,261 34,462 30,941 26,842 63,930 70,898 61,344 1,807 2,005 2,745 65,737 72,903 64,089 10,481 13,372 15,738 55,256 $ 59,531 $ 48,351 Basic S 11.97 S 12.01 9.27 Diluted $ 11.89 $ 11.91 $ 9.21 Shares used in computing earnings per share: Basic Diluted 4,617,834 4,648,913 4,955,377 5,000,109 5,217,242 5,251,692 See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Years ended September 28, 2019 September 29, 2018 September 30, 2017 Net income Other comprehensive income (loss): Change in foreign currency translation, net of tax Change in unrealized gains/losses on derivative instruments, net of tax: Change in fair value of derivatives Adjustment for net (gains) losses realized and included in net income Total change in unrealized gains/losses on derivative instruments Change in unrealized gains/losses on marketable securities, net of tax: Change in fair value of marketable securities Adjustment for net (gains) losses realized and included in net income Total change in unrealized gains/losses on marketable securities MacBook Air $ 55,256 $ 59.531 $ 48,351 (408) (525) 224 (661) 523 1,315 23 382 (1,477) (638) 905 (162) 3,802 (3,407) (782) 25 (64) 3,827 (3,406) (846) DII DA F5 F6 F7 F8 F9 D F10