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Using the 2023 Apple Form 10-K posted with this assignment, answer questions 13-15: 13. Using the financial statements in Item 8 and the ratio formulas
Using the 2023 Apple Form 10-K posted with this assignment, answer questions 13-15: 13. Using the financial statements in Item 8 and the ratio formulas from CH12 of your textbook, calculate the following ratios for 2023 and show the same number of decimals as prior years: (8 points) (NOTE: There are numerous financial leverage indicators, including the debit to equity ratio included in CH12 in your textbook, but the formula you should use for purposes of this assignment is average assets divided by average equity since you can use it to connect return on assets to return on equity.) 2023 2022 2021 2020 Net sales growth rate 7.79% 33.26% 5.51% Gross profit margin 43.31% 41.78% 38.23% Operating profit margin 30.29% 29.78% 24.15% Net profit margin 25.31% 25.88% 20.91% Asset turnover 1.12 1.08 0.83 Return on assets 28.36% 28.06% 17.33% Financial leverage 6.19 5.25 4.25 Return on equity 175.46% 147.44% 73.69% 14. In the Company Stock Performance section of Item 5, Apple provides a graph benchmarking Apples stock performance to the S&P 500 Index and the Dow Jones U.S. Technology Supersector Index. Which of the three generated the highest rate of shareholder return during the most recent fiscal year ended on September 30, 2023? (2 points) (NOTE: You can eyeball it based on the slope of the lines in the graph or you can calculate the percentage change in total return using the data included in the table below the graph.) a) 15. Do your own self-guided review of Apples 2023 Form 10-K based on what you learned during your scavenger hunt of Apples 2014 Form 10-K. Using the information you find along with Figure 2 on page 6 and your responses to questions 13-14, what conclusions can you draw regarding Apples financial performance during 2023? What evidence do you have to substantiate your claims? (20 points)
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