1 answer

Compute the following ratios for 2014 and 2013 using apples financial statements found in Appendix A...

Question:

  1. Compute the following ratios for 2014 and 2013 using apples financial statements found in Appendix A and attached:
  1. Current ratio
  2. Quick (or acid-test ratio)
  3. Profit margin
  4. Return on total assets (ROA) [Sept 29, 2012, total assets equaled $176,064]
  5. Price-earnings ratio
  1. Stock price – 9/27/14: $100.75
  2. Stock Price – 9/28/13: $68.96September 27,2014 September 28,2013 ASSETS: Current assets: Cash and cash equivalents Short-term marketable securitics Accoun
September 27,2014 September 28,2013 ASSETS: Current assets: Cash and cash equivalents Short-term marketable securitics Accounts receivable, less allowances of $86 and $99, respectively 3,844 S 11,233 17,460 13,102 3,453 7,539 6,882 ,318 9,759 Deferred tax assets Other current asscts Total current assets 130,162 Long-term marketable securities Property, plant and equipment, net 106,215 16,597 1,577 4,179 4.616 Acquired intangible assets, net Other assets 4,142 3-764 Total assets 207,000 LIABILITIES AND SHAREHOLDERS EQUITY Current liabilities 30,196 $ Accounts payable Accrucd expenses 22,367 13,856 7,435 0 43,658 18.453 8491 6.308 Commercial paper Total current liabilities 3,031 28,987 16,960 20,208 Long-term debt Total liabilities Shareholders equity Common stock and additional paid-in capital, $0.00001 par value; 12,600,000 shares authorized 5,866,161 and 6,294,494 shares issaod and outstanding, respectively Retained earnings 19,764 (471) 207.000 23,313 87,152 Total shareholders' equity Total liabilities and sharcholders' equity See accompanying Notes to Consolidated Financial Statements Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended Net sales Cost of sales 182,795 112,.258 0.537 156 508 87,846 70,910 106,606 Gross margin Operating expenses: 4,475 10,830 Selling, general and administrative 11,993 18,034 10,040 13.421 48,999 Other income, net Income before provision for income Provision for income taxes Net income 522 55,763 14.030 41.733 53,483 3,973 39 510 50,155 13.118 37,037 Earnings per 5.72 S 6.38 Shares used in computing carnings per share: Basic 6,085 572 6,122,663 1.82 6477.320 6,521,634 6,543,726 6,617,483 Cash dividends declared per common share

Answers

2014 2013
1 Current ratio:-
a. Current Assets $   68,531 $   73,286
b. Current Liabilities $   63,448 $   43,658
Ratio (a/b) 1.08 times 1.68 times
2 Quick or Acid Test Ratio:-
a. Quick Assets
Cash and Cash equivalents+ Short term marketable securities + Accounts Receivable (net) 13844+11233+17460 = $   42,537 14259+26287+13102 = $   53,648
b. Current Liabilities $   63,448 $   43,658
Ratio (a/b) 0.67 times 1.23 times
3 Profit Margin:-
a. Net Income $   39,510 $   37,037
b. Net Sales $ 182,795 $ 170910
Ratio (a/b) 21.61% 21.67%
4 Return on Total Assets Ratio:-  
a. Net income $   39,510 $   37,037
b. Average Total assets
opening + closing 207000 + 231839 = $ 219,420 176064 + 207000 = $ 191,532
2 2 2
Ratio (a/b *100) 18.01% 19.34%
5 Price earnings Ratio on Common Stock :-  
a. Market price per share $   100.75 $     68.96
b. Earnings per share $       6.49 $       5.72
Ratio (a/b) 15.52 times 12.06 times

Feel free to ask any clarification, if required. Please provide feedback by thumbs up, if satisfied. It will be highly appreciated. Thank you.

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