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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,
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 Noncurrent assets: 2020 $ 274,515 169,559 66,288 $ 57,411 $ 38,016 52,927 16,120 2019 $ 260,174 161,782 63,930 $ 55,256 $ 48,844 51,713 22,926 4,061 4,106 21,325 22,878 11,264 12,352 143,713 162,819 100,887 105,341 36,766 37,378 Total current 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 Deferred revenue Commercial paper Current portion of term debt Total current liabilities Noncurrent liabilities: 42,522 32,978 $ 180,175 $ 175,697 $ 323,888 $ 338,516 $ 42,296 42,684 $ 46,236 37,720 6,643 5,522 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 45,174 Retained earnings 14,966 45,898 (406) (584) Total shareholders' equity 65,339 90,488 $ 323,888 $ 338,516 Accumulated other comprehensive income/(loss) Total liabilities and shareholders' equity 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 % %
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