Question

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

Answer 1

Required A:- Required C:- 2017 2016 2016 2017 Working Capital: in million $ in million $ ROI: Current Assets 48,351 Net Income Total Investment ROI (in %) 128,645 106,869 45,687 Less :- Current Liabilities 100,814 79,006 375,319 321,686 Working Capital 27,863 27,831 14.2 12.9 Current Ratio: Margin: Current Assets Operating Income Sales Margin (in %) 60,024 128,645 61,344 106,869 Current Liabilities 79,006 100,814 215,639 229,234 Current Ratio 26.8 27.8 1.3 1.4 Acid Test Ratio: Current Assets Less: Inventory = Liquid Current Liabilities = Acid Test Ratio 106,869 128,645 4,855 2,132 urrent Assets 123,790 104,737 79,006 100,814 1.2 1.3 Required B:- 2016 2017 ROE : Net Income Shareholders Equity =ROE (in %) 48,351 45,687 134,047 128,249 36.1 35.6