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ttached is Apple's financial information. Please answer questions 1-3.  1. Assume all cost of goods sold items are purchased, Apple's days' purchase in accounts payable in 2021 is ____ days. a. 67.82 b. 89.53 c. 74.64 d. 91.48  2. What is Apple's total to total equity ratio in 2021?  a. 3.96  b. 1.73 c. 2.65  d. 4.56  3. What is Apple's gross profit margin in 2021? a. 0.56  b. 0.38  c. 0.42  d.

ttached is Apple's financial information. Please answer questions 1-3.  1. Assume all cost of goods sold items are purchased, Apple's days' purchase in accounts payable in 2021 is ____ days. a. 67.82 b. 89.53 c. 74.64 d. 91.48  2. What is Apple's total to total equity ratio in 2021?  a. 3.96  b. 1.73 c. 2.65  d. 4.56  3. What is Apple's gross profit margin in 2021? a. 0.56  b. 0.38  c. 0.42  d.

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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Attached is Apple's financial information. Please answer questions 1-3. 

1. Assume all cost of goods sold items are purchased, Apple's days' purchase in accounts payable in 2021 is ____ days.

a. 67.82

b. 89.53

c. 74.64

d. 91.48 

2. What is Apple's total to total equity ratio in 2021? 
a. 3.96 

b. 1.73

c. 2.65 

d. 4.56 

3. What is Apple's gross profit margin in 2021?

a. 0.56 

b. 0.38 

c. 0.42 

d. 0.27

900699 8 20 21 22 Income Statement (all numbers in billions) Sales Cost of Goods Sold Gross Profit SG&A Exp. Interest Expense Income Before Tax Income Tax Expense Net Income Cash Flow Statement (all numbers in billions) Cash Flows from Operations Cash Flows from Investing Cash Flows from Financing Number of Shares Outstanding (in billions) Stock Price (12/31/2021) Dividends per share for 2021 2020 274.15 170.14 104.01 38.67 2.87 67.09 9.68 57.41 2020 80.67 -4.29 -86.82 16.32 177.57 0.88 Balance Sheet (all numbers in billions) 365.82 Cash 212.98 Marketable Securities 152.84 Accounts Receivable 43.89 Inventory 2.65 Total Current Assets 109.21 Fixed Assets 14.53 Total Assets 94.68 Accounts Payable Notes Payable Total Current Liabilities 2021 Long-Term Debt Total Liabilities 104.04 Retained Earnings -14.55 Common Stock -93.35 Total Equity 2021 2020 19.98 71 37.45 4.06 143.71 45.34 323.89 42.3 15.23 105.39 107.05 258.55 14.97 50.78 65.34 2021 26.91 35.73 51.51 6.58 134.84 49.53 351 54.76 17.14 125.48 119.38 287.91 5.56 57.37 63.09 +
Transcribed Image Text:900699 8 20 21 22 Income Statement (all numbers in billions) Sales Cost of Goods Sold Gross Profit SG&A Exp. Interest Expense Income Before Tax Income Tax Expense Net Income Cash Flow Statement (all numbers in billions) Cash Flows from Operations Cash Flows from Investing Cash Flows from Financing Number of Shares Outstanding (in billions) Stock Price (12/31/2021) Dividends per share for 2021 2020 274.15 170.14 104.01 38.67 2.87 67.09 9.68 57.41 2020 80.67 -4.29 -86.82 16.32 177.57 0.88 Balance Sheet (all numbers in billions) 365.82 Cash 212.98 Marketable Securities 152.84 Accounts Receivable 43.89 Inventory 2.65 Total Current Assets 109.21 Fixed Assets 14.53 Total Assets 94.68 Accounts Payable Notes Payable Total Current Liabilities 2021 Long-Term Debt Total Liabilities 104.04 Retained Earnings -14.55 Common Stock -93.35 Total Equity 2021 2020 19.98 71 37.45 4.06 143.71 45.34 323.89 42.3 15.23 105.39 107.05 258.55 14.97 50.78 65.34 2021 26.91 35.73 51.51 6.58 134.84 49.53 351 54.76 17.14 125.48 119.38 287.91 5.56 57.37 63.09 +
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