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Key figures for the recent two years of both Apple and Google follow Apple Current Year Prior Year $ 55,256 $ 59,531 260,174 162,819 105,718 5 millions Net income Net sales Current assets Current liabilities 265,595 131,339 115,929 Google Current Year Prior Year $ 34,343 $ 30,736 161,857 136,819 152,578 135,676 45,221 34,620 Required: 1. Compute profit margins for (a) Apple and (b) Google for the two years of data reported above. 2. In the prior year, which company is more successful on the basis of profit margin? 3. Compute current ratios for (a) Apple and (b) Google for the two years reported above. 4. In the current year, which company has the better ability to pay short-term obligations according to the current ratio? Complete this question by entering your answers in the tabs below.

Key figures for the recent two years of both Apple and Google follow Apple Current Year Prior Year $ 55,256 $ 59,531 260,174 162,819 105,718 5 millions Net income Net sales Current assets Current liabilities 265,595 131,339 115,929 Google Current Year Prior Year $ 34,343 $ 30,736 161,857 136,819 152,578 135,676 45,221 34,620 Required: 1. Compute profit margins for (a) Apple and (b) Google for the two years of data reported above. 2. In the prior year, which company is more successful on the basis of profit margin? 3. Compute current ratios for (a) Apple and (b) Google for the two years reported above. 4. In the current year, which company has the better ability to pay short-term obligations according to the current ratio? Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Key figures for the recent two years of both Apple and Google follow Google Prior Year Current Year Prior Year $ 34,343 $ 59,531 $ 30,736 265,595 161,857 136,819 131,339 152,578 115,929 45,221 $ millions Net income Net sales Current assets Current liabilities Required 11 Required 2 Required: 1. Compute profit margins for (a) Apple and (b) Google for the two years of data reported above. 2. In the prior year, which company is more successful on the basis of profit margin? 3. Compute current ratios for (a) Apple and (b) Google for the two years reported above. 4. In the current year, which company has the better ability to pay short-term obligations according to the current ratio? Complete this question by entering your answers in the tabs below. (a) Apple (b) Google Apple Current Year $ 55,256 260,174 162,819 105,718 Required 4 Compute current ratios for (a) Apple and (b) Google for the two years reported above. Note: Round your answers to 2 decimal places. Current Year Required 3 Current Ratio 135,676 34,620 Prior Year
Transcribed Image Text:Key figures for the recent two years of both Apple and Google follow Google Prior Year Current Year Prior Year $ 34,343 $ 59,531 $ 30,736 265,595 161,857 136,819 131,339 152,578 115,929 45,221 $ millions Net income Net sales Current assets Current liabilities Required 11 Required 2 Required: 1. Compute profit margins for (a) Apple and (b) Google for the two years of data reported above. 2. In the prior year, which company is more successful on the basis of profit margin? 3. Compute current ratios for (a) Apple and (b) Google for the two years reported above. 4. In the current year, which company has the better ability to pay short-term obligations according to the current ratio? Complete this question by entering your answers in the tabs below. (a) Apple (b) Google Apple Current Year $ 55,256 260,174 162,819 105,718 Required 4 Compute current ratios for (a) Apple and (b) Google for the two years reported above. Note: Round your answers to 2 decimal places. Current Year Required 3 Current Ratio 135,676 34,620 Prior Year
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