With the help of accounting ratios, Critically analyse the Solvency performance of the Apple company. FNet sales:ProductsServicesTotal net salesCost of sales:ProductsServicesTotal cost of salesGross marginOperating expenses:Research and developmentSelling, general and administrativeTotal operating expensesOperating incomeOther income/(expense), netIncome before provision for incometaxesProvision for income taxesNet incomeSeptember 24,2022$ 316,19978,129394,328201,47122,075223,546170,78226,25125,09451,345119,437(334)119,10319,300$ 99,803September 25,2021$ 297,39268,425365,817192,26620,715212,981152,83621,91421,97343,887108,949258Years ended109,20714,527$ 94,680September 26,2020$ 220,74753,768274,515$151,28618,273169,559104,95618,75219,91638,66866,28880367,0919,68057,411 Current assets:Cash and cash equivalentsMarketable securitiesAccounts receivable, netInventoriesVendor 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 contingenciesSeptember 24,2022ASSETS:Shareholders' equity:Common stock and additional paid-in capital, $0.00001 parvalue: 50,400,000 sharesRetained earnings/Accumulated deficit)Accumulated other comprehensive income/(loss)LIABILITIES AND SHAREHOLDERS' EQUITY:authorized; 15,943,425 and 16,426,786 shares issued andoutstanding, respectivelyTotal shareholders' equityTotal liabilities and shareholders' equity$ 23,64624,65828,1844,94632,74821,223135,405120,80542,11754,428217,350$ 352,755$ 64,11580,8457,9129,98211,128153,98298,95049,142148,101302,083september25,202164,849(3,068)(11,109)50,672$ 352,7555$$$34,94027,69928,2786,58025,22814,111134,838127,87739,44048,840218,168351,00254,76347,4937,6126,0009,613125,481109,10653,325182,431287,91257,3855,56216363,090351,002

Solvency can be measured using debt equity ratio. Debt equity ratio can be found out using the…

Answered: With the help of accounting ratios,…

Business

Accounting

With the help of accounting ratios, Critically analyse the Solvency performance of the Apple company.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.13MCE

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