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 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 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 2020 $274,515 169,559 66,288 2019 $260,174 161,782 $ 57,411 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 42,522 $ 180,175 $323,888 37,378 32,978 $ 175,697 $ 338,516 Other noncurrent assets Total noncurrent assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable. 42,522 $ 180,175 $ 323,888 32,978 $ 175,697 $ 338,516 $ 42,296 $ 46,236 Other current liabilities Deferred revenue 42,684 6,643 37,720 5,522 Commercial paper Current portion of term debt Total current liabilities Noncurrent liabilities: 4,996 5,980 8,773 10,260 105,392 105,718 Noncurrent portion of term debt 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, $0.00001 par value: 50,400,000 shares authorized; 16,976,763 and 17,772,945 shares issued and outstanding, respectively 50,779 Retained earnings 14,966 45,174 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 Content: Total liabilities and shareholders' equity $323,888 $ 338,516 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. res Required A Required B Required C Calculate Apple Incorporated's working capital, current ratio, and acid-test ratio at September 26, 2020, and September 28, 2019. Note: Round your ratio answers to 2 decimal place. Enter "Working capital" in million of dollars. Working capital Current ratio Acid-test ratio 2020 2019 Required B > Total Shareers equity Total liabilities and shareholders' equity $323,888 30,900 $338,516 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 ROE for the years ended September 26, 2020, and September 28, 2019. Note: Round your answers to 1 decimal place. 2020 2019 ROE % Total liabilities and shareholders' equity > 323,888 $ 338,516 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. ROI Margin Turnover 2020 2019 % % % %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

South Western Federal Taxation 2017 Comprehensive

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

40th Edition

9781305874169

Students also viewed these Accounting questions