The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Ic., 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 2017 2016 $ 215,639 $ 229,234 Costs of sales 114,048 61,344 $ 48,351 131,376 60,024 $ 45,687 Operating income Net income At Year End: Assets Current assets: $ 20,484 $ 20,289 Cash and cash equivalents Short-term marketable securities 53,892 17,874 4,855 17,799 46,671 15,754 2,132 13,545 Accounts receivable, less allowance of $58 and $53, respectively Inventories Vendor nontrade receivables Other current assets 13,936 8,283 Total current assets 128,645 194,714 33,783 5,717 106,869 170,430 27,010 5,414 3,206 8,757 $ 321,686 Long-term marketable securities Property, plant, and equipment, net Goodwill Acquired intangible assets, net 2,298 10,162 $ 375,319 Other assets Total assets Liabilities and Shareholders' Equity Liabilities and Shareholders' Equity Current liabilities: $ 49,049 $ 37,294 22,027 Accounts payable Accrued expenses 25,744 7,548 Deferred revenue Commercial paper 8,080 8,105 3,500 11,977 6,496 100,814 Current portion of long-term debt Total current liabilities 79,006 2,930 Deferred revenue-noncurrent 2,836 97,207 40,415 Long-term debt 75,427 36,074 193,437 Other noncurrent liabilities Total liabilities 241,272 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 31,251 35,867 98,330 (150) 134,047 96,364 Accumulated other comprehensive income (loss) Total shareholders' equity 634 128,249 $ 375,319 $ 321,686 Total liabilities and shareholders' eguity 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 C Requ Required B 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 Complete this question by entering your answers in the tabs below. Required B Required A Required C 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 Complete this question by entering your answers in the tabs below. Required A Required B Required C 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.) 2016 2017 |% ROI Margin Turnover
