Question: The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1. Compute Apple's fixed asset turnover ratio for 2007,

The following data were included in a recent Apple Inc. annual report ($ in millions):


2007 2009 In millions Net sales 2008 2006 $32,479 $36,537 $24,006 $19.315 Net property, plant, and equipment 1,832 2,954


Required:
1. Compute Apple's fixed asset turnover ratio for 2007, 2008, and 2009.
2. How might a financial analyst interpret theresults?

2007 2009 In millions Net sales 2008 2006 $32,479 $36,537 $24,006 $19.315 Net property, plant, and equipment 1,832 2,954 2,455 1,281

Step by Step Solution

★★★★★

3.44 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

1 Fixed asset turnover ratio in millions Sales beginning net fixed assets ending net fixed ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

72-B-A-I-A (922).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Q:

The following data were included in a recent Pear Inc. annual report ($ in millions): In millions 2011 2012 2013 33,179 $ 2,951 2014 21,015 $ 1,276 Net sales $ 24,906 $ 1,837 34,837 2,464 Net...

Q:

The following data were included in a recent annual report of Warehouse Foods. Required a. Why is a companys net income typically less than its net cash flow from operating activities? b. Why do most...

Q:

The following data were taken from Tyrone Tardieffs check register for the month of April. Tyrones bank reconciliation for March showed one outstanding check, Check No. 78 for $57.00 (written on...

Q:

Assume the following data were included in a recent Apple Inc. annual report ( in millions ) : Required: Compute Apple's fixed asset turnover ratio for 2 0 1 8 , 2 0 1 9 , and 2 0 2 0 . ( Round your...

Q:

Assume the following data were included in a recent Apple Inc. annual report ( in millions ) : Required: Compute Apple's fixed asset turnover ratio for 2 0 1 8 , 2 0 1 9 , and 2 0 2 0 . ( Round your...

Q:

The following data were included in a recent Lavender Associates annual report (in millions): Required: 1. Compute Lavender's fixed asset turnover ratio for 2016,2017 , and 2018. 2. During 2018, Zhu...

Q:

Computing and Interpreting the Fixed Asset Turnover Ratio from a Financial Analyst Perspective [LO 9-7] The following data were included in a recent Apple Inc. annual report (in millions): 1. Compute...

Q:

The following data were included in a recent Papaya incorporated annual report (in millions): Required: 1. Compute Papaya's fixed asset turnover ratio for 2016, 2017, and 2018 2. During 2018, Bigley...

Q:

The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1. Compute Apple?s fixed asset turnover ratio for 2015, 2016, and 2017. Round your answers to two...

Q:

what is the turnover ratio The following data were included in a recent Papaya incorporated annual report (in millions): Required: 1. Compute Papaya's fixed asset turnover ratio for 2016, 2017, and...

Q:

Explain the role of shape, scale, and location parameters in continuous probability distributions.

Q:

Locate the centroid of the plane area bounded by the equation y = 4x, x = 1 and the x-axis on the first quadrant. A. G) B. E ) D.( )

Q:

The two preconditions for learning are employee readiness and motivation. True False

Q:

The adjusted trial balance for Ryan Company is given in E4-21. Instructions: Prepare the closing entries for the temporary accounts at August 31.

Q:

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2010, Deutscher-Menzies sold Arkies under the Shower, a painting by renowned Australian...

Q:

Matt Broderick Company began operations on January 2, 2013. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually....

Q:

Suppose that Psy Ops Industries currently has the following balance sheet, and that sales for the year just ended were $5 million. The firm also has a profit margin of 25 percent, a retention ratio...

Q:

Imprudential, Inc., has an unfunded pension liability of $550 million that must be paid in 20 years. To assess the value of the firm's stock, financial analysts want to discount this liability back...

Q:

__________ refers to the words of a presentation in the context of organizational structure and the supporting information.

Q:

Access the FASB Codification at asc.fasb.org to prepare responses to the following (a) Access the glossary (Master Glossary) to answer the following. (1) What is the definition provided for...

Q:

Explain the difference between the nature-of-expense and function-of-expense classifications.

Q:

For each of the following income statement line items, state whether the item is a by nature expense item or a by function expense item. ________ Cost of goods sold ________ Depreciation expense...

Q:

Snowboard Supply Co. has Total Assets of $300,000,000 . The company's stock price has reached a 52-week high of $20.00 per share. However, the firm has $100,000,000 of Total Debt. They have...

Q:

Chapter 9 Question 57 1. Is this a two-tailed, right-tail, or left-tail test? C two-tailed C right-tail C left-tail 2. What is the sign of the alternative hypothesis? C not equal C greater than C...

Q:

II. III. Formulas and Tables for AP Statistics Descriptive Statistics f=i~ =$ sx= nilEhlz Z(::1E)2 j} = a + bx E = a + bf r=,,112["f][f] Probability and Distributions P{Au3)= P(A)+P(B)P(An3) P(A|B)=%...