Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following summarized data (amounts in millions) are taken from the September 26, 2020, and September 28, 2019, comparative financial statements of Apple Incorporated,

image text in transcribedimage text in transcribedimage text in transcribed

The following summarized data (amounts in millions) are taken from the September 26, 2020, and September 28, 2019, comparative financial statements of Apple Incorporated, a company that designs, manufactures, and markets mobile communication and media devices and personal computers; sells a variety of related software, services, accessories, networking solutions, and offers third-party digital content and applications: (Amounts Expressed in Millions) For the Fiscal Years Ended September 26 and September 28, respectively: Net sales Costs of sales Operating income. Net income At Year-End: Assets Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, net Inventories Vendor non-trade receivables Other current assets Total current assets a Noncurrent assets: Long-term marketable securities Property, plant, and equipment, net Other noncurrent assets Total noncurrent assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities 2020 $274,515 169,559 66,288 $ 57,411 2019 $ 260,174 161,782 63,930 $55,256 $ 38,016 52,927 $ 48,844 51,713 22,926 16,120 4,061 4,106 21,325 22,878 11,264 12,352 143,713 162,819 100,887 105,341 36,766 37,378 42,522 $ 180,175 $323,888 $ 42,296 42,684 32,978 $ 175,697 $338,516 37,720 Long-term marketable securities Property, plant, and equipment, net Other noncurrent assets Total noncurrent assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Other current liabilities Deferred revenue Commercial paper Current portion of term debt Total current liabilities Noncurrent liabilities: Noncurrent portion of term debt 100,887 105,341 36,766 37,378 $ 180,175 $ 323,888 42,522 $ 338,516 32,978 $175,697 6,643 $ 42,296 42,684 $ 46,236 37,720 5,522 4,996 5,980 8,773 10,260 105,392 105,718 98,667 91,807 Other noncurrent liabilities 54,490 50,503 Total noncurrent liabilities 153,157 142,310 Total liabilities 258,549 248,028 Shareholders' equity: Common stock and additional paid-in capital, 50.00001 par value: 50,400,000 shares authorized; 16,976,763 and 17,772,945 shares issued and outstanding, respectively 58,779 45,174 Retained earnings 14,966 45,898 Accumulated other comprehensive income/(loss) (406) Total shareholders' equity 65,339 Total liabilities and shareholders' equity $323,888 (584) 90,488 $ 338,516 At September 29, 2018, total assets were $365,725 and total shareholders' equity was $107,147 Required: At September 29, 2018, total assets were $365,725 and total shareholders' equity was $107,147 Required: a. Calculate Apple Incorporated's working capital, current ratio, and acid-test ratio at September 26, 2020, and September 28, 2019 b. Calculate Apple's ROE for the years ended September 26, 2020, and September 28, 2019. c. Calculate Apple's ROI, showing margin and turnover, for the years ended September 26, 2020, and September 28, 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate Apple's ROI, showing margin and turnover, for the years ended September 26, 2020, and September 28, 2019. Note: Round "Turnover answers to 2 decimal places. Round your percentage answers to 1 decimal place. 2020 2019 ROI 17.3 % Margin 20.9 % 16.7 % 212 % Turnover 82.88 78.55

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Lets break down the requirements for Apples financial analysis based on the data provided We will calculate the working capital current ratio acidtest ratio return on equity ROE and return on investme... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David Marshall, Wayne McManus, Daniel Viele

11th edition

1259535312, 978-1259535314

More Books

Students also viewed these Accounting questions