The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1.

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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?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.

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Financial Accounting

ISBN: 978-0078111020

7th Edition

Authors: LibbyShort

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Question Posted: Dec 12, 2011 09:30 AM

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The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1.

Question:

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 Answer:

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

Financial Accounting

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