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The current assets and current liabilities for Apple Inc. and Dell, Inc., are as follows at the end of a recent fiscal period. Apple Inc.
The current assets and current liabilities for Apple Inc. and Dell, Inc., are as follows at the end of a recent fiscal period.
Apple Inc. (in millions) | Dell, Inc. (in millions) | |
Current Assets | ||
Cash and cash equivalents | $10,746 | $12,569 |
Short-term investments | $18,383 | $208 |
Accounts Receivable | $21,275 | $9,842 |
Inventories | $791 | $1,382 |
Other current assets* | $6,458 | $3,967 |
Total current assets | $57,653 | $27,968 |
Current liabilities | ||
Accounts payable | $32,589 | $15,223 |
Accrued and other liabilities | $5,953 | $8,216 |
Total current liabilities | $38,542 | $23,439 |
*these represent prepaid expense and other nonquick current assets
a. Determine the quick ratio for both companies. (Round to one decimal place.)
b. Interpret the quick ratio difference between the two companies.
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