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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
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 39 and Septenber 24, respectively: 2017 2016 Net sales $ 229, 234 $ 215,639 Costs of sales 114,048 131,376 Operating Income 61,344 60,24 Net Income $ 48,351 $ 45,687 At Year End: Assets Current assets: Cash and cash equivalents $ 20,289 $ 20,484 Short-term narketable securities 53,892 46,671 Accounts receivable, less allowance of $58 and 553, respectively 17,874 15,754 Inventories 4,855 2,132 Vendor nontrade receivables 17.799 13,545 Other current assets 13,936 3.283 Total current assets 128,645 106,869 Long-term marketable securities 194,714 178,430 Property, plant, and equipment, net 33,783 27,010 Goodwill 5,717 5,414 Acquired intangible assets, net 2,298 3,206 Other assets 10.162 8,757 Total assets $ 375, 319 $ 321,686 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 49,649 $ 37,294 Accrued expenses 25,744 22,227 Deferred revenue 7,548 8.es Connercial paper 11,977 8,105 Current portion of long-tern debt 6,496 3. See Total current liabilities 100,814 79,606 Deferred revenuenoncurrent 2,836 2,930 Long-term debt 97,207 75,427 Other noncurrent liabilities 40, 415 36,074 Total liabilities 241, 272 193,437 ' Connon stock and additional paid-in capital, se.ceee1 par value, 12,6e8,eee shares authorized; 5,126,201 and 5,336,166 shares issued and outstanding, respectively 35,867 31,251 Retained earnings 98,33 96,364 Accumulated other comprehensive income (loss) (150) 634 Total shareholdersequity 134,647 128,249 Total liabilities and shareholders' equity $ 375,319 $ 121,686 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-est 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 Calculate Apple Inc.'s working capital, current ratio, and acid-test ratio at September 30, 2017, and September 24, 2016 (Round your ratio answers to 1 decimal place. Enter "Working capital in million of dollars.) 2017 2016 Working capital Current ratio Acid-test ratio Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate Apple's ROE for the years ended September 30, 2017, and September 24, 2016. (Round your answers to 1 decimal place.) 2016 2017 ROE Required A Required B Required Calculate Apple's ROI, showing margin and turnover for the years ended September 30, 2017, and September 24, 2016. (Round "Turnover" answers to 2 decimal places. Round your percentage answers to 1 decimal place.) 2017 2016 ROI Margin Turnover
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