The following data were included in a recent Apple Inc. annual report (in millions): Required: 1. Compute
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 2014, 2015, and 2016. Round your answer to one decimal place.
2. During 2016, Microsoft reported a fixed asset turnover ratio of 5.2. Was Apple’s turnover better or worse than Microsoft’s in that year?
Asset TurnoverAsset 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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1 Fixed asset turnover ratio dollars in millions Net Sales Average Net Fixed Assets Fixed Ass...View the full answer
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Related Book For 
Fundamentals of Financial Accounting
ISBN: 978-1259864230
6th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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