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The following data were included in a recent Apple Incorporated annual report (in millions): Net revenue Net property, plant, and equipment 2015 $ 233,715 22,471
The following data were included in a recent Apple Incorporated annual report (in millions): Net revenue Net property, plant, and equipment 2015 $ 233,715 22,471 2016 $ 215,640 27,010 2017 $ 229, 230 33,780 2018 $ 265,600 41,300 Required: 1. Compute Apple's fixed asset turnover ratio for 2016, 2017, and 2018. 2. During 2018, Microsoft reported a fixed asset turnover ratio of 3.8. Was Apple's turnover better or worse than Microsoft's in that year? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute Apple's fixed asset turnover ratio for 2016, 2017, and 2018. (Do not round intermediate calculations. Round your answers to 1 decimal place.) Year Fixed Asset Turnover Ratio 2016 2017 7.3 10.9 X 8..72 x 2018 Required 2 >
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