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The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Inc., a

image text in transcribed The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Inc., 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 30 and September 24, respectively: Net sales Costs of sales Operating income Net income At Year Endi Assets Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowance of $58 and $53, respectively Inventories Vendor nontrade receivables Other current assets Total current assets Long-tere marketable securities Property, plant, and equipment, net Goodwill Acquired intangible assets, net Other assets Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Accrued expenses 2017 2016 $ 229,234 $ 215,639) 114,048 131,376 60,024 61,344 $ 48,351 $ 45,687 $ 20,289 $ 20,484 46,671 53,892 17,874 15,754 4,855 2,132 17,799 13,545 13,936 8,283 128,645 106,869 194,714 170,430 33,783 27,010 5,717 5,414 2,298 3,206 10,162 8,757 $375,319 $ 321,686 $ 49,049 $ 37,294 25,744 22,027 7,548 8,080 Commercial paper 11,977 8,105 Current portion of long-term debt 6,496 3,500 Deferred revenue-noncurrent Total current liabilities Long-tere debt 100,814 79,006 2,836 2,938 97,207 75,427 Other noncurrent liabilities 40,415 36,074 Total liabilities 241,272 193,437 Shareholders' Equity: Common stock and additional paid-in capital, $0.00001 par value, 12,600,000 shares authorized; 5,126,201 and 5,336,166 shares issued and outstanding, respectively Retained earnings 35,867 31,251 98,330 96,364 (150) 134,047 634 128,249 $ 375,319 $ 321,686 Deferred revenue Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity At September 26, 2015, total assets were $290,345 and total shareholders' equity was $119,355. Required: a. Calculate Apple Inc's working capital, current ratio, and acid-test ratio at September 30, 2017, and September 24, 2016. b. Calculate Apple's ROE for the years ended September 30, 2017, and September 24, 2016. c. Calculate Apple's ROI, showing margin and turnover, for the years ended September 30, 2017, and September 24, 2016. Complete this question by entering your answers in the tabs below. Required A Required B Required C

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