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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

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) 2020 2019
For the Fiscal Years Ended September 26 and September 28, respectively:
Net sales $ 274,515 $ 260,174
Costs of sales 169,559 161,782
Operating income 66,288 63,930
Net income $ 57,411 $ 55,256
At Year-End: Assets
Current assets:
Cash and cash equivalents $ 38,016 $ 48,844
Short-term marketable securities 52,927 51,713
Accounts receivable, net 16,120 22,926
Inventories 4,061 4,106
Vendor non-trade receivables 21,325 22,878
Other current assets 11,264 12,352
Total current assets 143,713 162,819
Noncurrent assets:
Long-term marketable securities 100,887 105,341
Property, plant, and equipment, net 36,766 37,378
Other noncurrent assets 42,522 32,978
Total noncurrent assets $ 180,175 $ 175,697
Total assets $ 323,888 $ 338,516
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable $ 42,296 $ 46,236
Other current liabilities 42,684 37,720
Deferred revenue 6,643 5,522
Commercial paper 4,996 5,980
Current portion of term debt 8,773 10,260
Total current liabilities 105,392 105,718
Noncurrent liabilities:
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 45,174
Retained earnings 14,966 45,898
Accumulated other comprehensive income/(loss) (406) (584)
Total shareholders equity 65,339 90,488
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:

  1. Calculate Apple Incorporateds working capital, current ratio, and acid-test ratio at September 26, 2020, and September 28, 2019.
  2. Calculate Apples ROE for the years ended September 26, 2020, and September 28, 2019.
  3. Calculate Apples ROI, showing margin and turnover, for the years ended September 26, 2020, and September 28, 2019.

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image text in transcribed Complete this question by entering your answers in the tabs below. 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. Calculate Apple's ROE for the years ended September 26, 2020, and September 28, 2019. Note: Round your answers to 1 decimal place. 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

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