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

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

The following data were included in a recent Apple Inc.

Required:
1. Compute Apple's fixed asset turnover ratio for 2008, 2009, 2010, and 2011. Round your answer to one decimal place.
2. Was Apple able to maintain its strong financial performance in recent years when the economy was faltering?

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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Related Book For  book-img-for-question

Fundamentals of Financial Accounting

ISBN: 978-0078025372

4th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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