Selected balance sheet amounts for Apple Inc., a retail company. for four recent fiscal years follow:

REQUIRED:

a. Compute the missing balance sheet amounts for each of the four years shown.

b. What asset category would you expect to constitute the majority of Apple's current assets? Of its long-term assets?

c. Is the company conservatively financed; that is, is it financed by a greater proportion of equity than of debt?

d. Calculate the current ratio for 2014 and 2017.

e. Assume the industry average is 2.0 for the current ratio. Comment on Apple's current ratio relative to the industry

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Non- Non- Current current Total Current current Total Stockholders' ($ millions) Assets Assets Assets Liabilities Liabilities Liabilities Equity ? $231,839 2014........ $ 68,531 $ 89,378 106,869 $ ? $ 56,844 $120,292 $111,547 201,101 214,817 2015 ? 80,610 171,124 119,355 ? ? ? 114,431 193,437 241,272 2016 . 2017 . ? 246,674 375,319 100,814 ? 134,047 .....