The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1.

Question:

The following data were included in a recent Apple Inc. annual report ($ in millions):

Required:

1. Compute Apple?s fixed asset turnover ratio for 2015, 2016, and 2017. Round your answers to two decimal points.

2. How might a financial analyst interpret the results?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.

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Related Book For answer-question

Financial Accounting

ISBN: 978-1259964947

10th edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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Question Posted: Oct 11, 2019 11:17 AM

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The following data were included in a recent Apple Inc. annual report ($ in millions): Required: 1.

Question:

In millions 2014 2015 2016 2017 Net sales $182,795 $233,715 $215,639 $229,234 Net property, plant, and equipment 33,783 20,642 22,471 27,010

Step by Step Answer:

Req 1 Computation of denominator 2015 20642 22471 2 2155650 2016 22471 27010 2 2474050 2017 27010 33...View the full answer

Financial Accounting

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