Use Apple’s financial statements in Appendix A to answer the following.

1. What is the amount of Apple’s accounts receivable as of September 29, 2018?

2. Compute Apple’s accounts receivable turnover as of September 29, 2018.

3. Apple’s most liquid assets include 

(a) cash and cash equivalents, 

(b) marketable securities (current), 

(c) accounts receivable, 

(d) inventory. Compute the percentage that these liquid assets (in total) make up of current liabilities as of September 29, 2018, and as of September 30, 2017.

4. Did Apple’s liquid assets as a percentage of current liabilities improve or worsen as of its fiscal 2018 year-end compared to its fiscal 2017 year-end?