Use Apples financial statements in Appendix A to answer the following. 1. Identify the total amount of

Question:

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

1. Identify the total amount of cash and cash equivalents for fiscal years ended (a) September 24, 2016, and (b) September 26, 2015.

2. Compute cash and cash equivalents as a percent (rounded to one decimal) of total current assets, total current liabilities, total shareholders’ equity, and total assets at fiscal year-end for both 2016 and 2015.

3. Use the statement of cash flows to compute the percent change (rounded to one decimal) between the beginning and ending year amounts of cash and cash equivalents for fiscal years ended (a) September 24, 2016, and (b) September 26, 2015.

4. Compute the days’ sales uncollected (rounded to two decimals) as of (a) September 24, 2016, and (b) September 26, 2015.

5. Is Apple’s collection of receivables on a favorable or unfavorable trend?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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