please use the data to answer the questions. Current assets:Cash and cash equivalentsMarketable securitiesAccounts receivable, netInventoriesCONSOLIDATED BALANCE SHEETS(In millions, except number of shares which are reflected in thousands and par value)Vendor non-trade receivablesOther current assetsTotal current assetsNon-current assets:Marketable securitiesProperty, plant and equipment, netOther non-current assetsTotal non-current assetsTotal assetsCurrent liabilities:Accounts payableOther current liabilitiesDeferred revenueCommercial paperTerm debtTotal current liabilitiesNon-current liabilities:Term debtOther non-current liabilitiesTotal non-current liabilitiesTotal liabilitiesCommitments and contingenciesApple Inc.LIABILITIES AND SHAREHOLDERS' EQUITY:Accumulated other comprehensive income/(loss)Total shareholders' equityASSETS:Shareholders' equity:Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 sharesauthorized; 4,443,236 and 4,754,986 shares issued and outstanding, respectivelyRetained earningsTotal liabilities and shareholders' equitySeptember 28,2019Apple Inc. I 2019 Form 10-K | 31$$$$See accompanying Notes to Consolidated Financial Statements.48,844 $51,71322,9264,10622,87812,352162,819105,34137,37832,978175,697338,516September 29,201891,80750,503142,310248,02846,236 $37,7205,5225,98010,260105,71845,17445,898(584)$90,488338,516 $25,91340,38823,1863,95625,80912,087131,339170,79941,30422,283234,386365,72555,88833,3275,96611,9648,784115,92993,73548,914142,649258,57840,20170,400(3,454)107,147365,725 Integrating Accounting for Liabilities and EquityObtain Apple's fiscal year 2019 10-K (filed October 31, 2019) either from the "Investor Relations" portion of its website (do a web search for "Apple Investor Relations")Required:Using Apple's 10-K, answer the following questions (Hint: It may be easier to use the Word or the PDF file, and use the search feature within the program.):1. Calculate Apple's current, quick, and cash ratios for 2018 and 2019. The industry averages for these ratios for 2019 were 1.72, 1.41, and 0.77, respectively. Roundyour answers to two decimal places.2019Current RatioQuick RatioCash Ratio2018Comment on Apple's short-term liquidity.For 2019, Applethe industry average for the current and quick ratio, butthe industry average for the cash ratio. However, because there is littleconcern about Apple's ability to sell its inventories, the current ratio provides relatively high confidence that Applebe able to meet its short-term obligations.

The question is related to Ratio Analysis. 1. The Current Ratio is calculated with the help of…

Integrating Accounting for Liabilities and Equity Obtain Apple's fiscal year 2019 10-K (filed October 31, 2019) either from the "Investor Relations" portion of its website (do a web search for "Apple Investor Relations") Required: Using Apple's 10-K, answer the following questions (Hint: It may be easier to use the Word or the PDF file, and use the search feature within the program.): 1. Calculate Apple's current, quick, and cash ratios for 2018 and 2019. The industry averages for these ratios for 2019 were 1.72, 1.41, and 0.77, respectively. Round your answers to two decimal places. 2019 Current Ratio Quick Ratio Cash Ratio 2018 Comment on Apple's short-term liquidity. For 2019, Apple the industry average for the current and quick ratio, but [ the industry average for the cash ratio. However, because there is little concern about Apple's ability to sell its inventories, the current ratio provides relatively high confidence that Apple be able to meet its short-term obligations.

Integrating Accounting for Liabilities and Equity Obtain Apple's fiscal year 2019 10-K (filed October 31, 2019) either from the "Investor Relations" portion of its website (do a web search for "Apple Investor Relations") Required: Using Apple's 10-K, answer the following questions (Hint: It may be easier to use the Word or the PDF file, and use the search feature within the program.): 1. Calculate Apple's current, quick, and cash ratios for 2018 and 2019. The industry averages for these ratios for 2019 were 1.72, 1.41, and 0.77, respectively. Round your answers to two decimal places. 2019 Current Ratio Quick Ratio Cash Ratio 2018 Comment on Apple's short-term liquidity. For 2019, Apple the industry average for the current and quick ratio, but [ the industry average for the cash ratio. However, because there is little concern about Apple's ability to sell its inventories, the current ratio provides relatively high confidence that Apple be able to meet its short-term obligations.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 27BE

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