Answered step by step
Verified Expert Solution
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,
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 20, respectively Net sales Costs of sales Operating income Net income At Year-End Assets Current assets: Cash and cash equivalents Short-tern marketable securities Accounts receivable, net. Inventories Vendor non-trade receivables Other current assets Total current assets foncurrent assets: Long-term narketable 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 tere debt Total current liabilities Noncurrent abilities: Noncurrent portion of term debt Proy 2020 $274,515 169,559 66,288 $ 57,411 $ 38,016 52,927 16,120 4,061 21,325 11,264 143,713 100,887 36,766 42,522 $ 100,175 $ 323,888 $ 42,296 42,684 6,643 4,996 B.77% 105,392 98,667 Next 2019 $ 260,174 161,782 63,930 $ 55,256 $ 48,844 51,713 27,926 4,106 22,878 12,352 162,819 105,341 37,328 32,978 $375,697 $ 338,516 $ 46,216 37,720 5,522 3,000 10,260 105,718 91,807 Lommercial paper Current portion of tere debt Total current liabilities Noncurrent liabilities: Noncurrent portion of term debt Other noncurrent liabilities Total noncurrent liabilities Total liabilities Shareholders equity: Common stock and additional paid in capital, 10.00001 par value: 50,400,000 shares authorized; 16,976,763 and 17,772,945 shares issued and outstanding. respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders' equity Total liabilities and shareholders' equity At September 29, 2018, total assets were $365,725 and total shareholders' equity was $107.147. Required B Required C 4,990 8.773 105,392 Priv 98,667 54,490 153,157 258,549 the 1 50,779 14,966 (406) 65,339 $323,888 113 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 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. 3,90 10,260 105,718 91,807 50,503 Naivt 142,310 248,028 45,174 45,898 (584) 90,488 $338,516
Step by Step Solution
★★★★★
3.39 Rating (158 Votes )
There are 3 Steps involved in it
Step: 1
b ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started