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THANK YOU IN ADVANCE FOR YOUR HELP! sing the 2021 Apple Form 10-K, answer the following questions: 13. Using the financial statements in Item 8
THANK YOU IN ADVANCE FOR YOUR HELP!
sing the 2021 Apple Form 10-K, answer the following questions: 13. Using the financial statements in Item 8 and the ratio formulas from CH12 of your textbook, calculate the following ratios for 2021 and show the same number of decimals as prior years: ( 8 points) (NOTE: There are numerous financial leverage indicators, including the debit to equity ratio included in CH12 in your textbook, but the formula you should use for purposes of this assignment is average assets divided by average equity since you can use it to connect return on assets to return on equity.) Apple Inc. Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) See accompanying Notes to Consolidated Financial Statements. Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) ASSETS: Current assets: Cash and cash equivalents Marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets Non-current assets: Marketable securities Property, plant and equipment, net Other non-current assets Total non-current assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Term debt Total current liabilities Non-current liabilities: Term debt Other non-current liabilities Total non-current liabilities Total liabilities Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,426,786 and 16,976,763 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity See accompanying Notes to Consolidated Financial Statements. Apple Inc. Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)Step by Step Solution
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