For questions #$7-20,$ refer to the following financial information for Apple Inc. $($all numbers are in $millions$)$:$20222023$BALANCE SHEET:Assets:Cash$$66,301$$$71,250$Accounts Receivable$45,99547,063$Inventory$3,9864,220$Other Current Assets$12,05713,191$Fixed Assets, net$41,30452,025$Investments$233,082240,161$Total Assets$$402,725$$$427,910$Liabilities and Equity:Accounts Payable$$55,888$$$60,262$Other Current Liabilities$51,41653,942$Long$-$term Debt$106,519100,686$Other Noncurrent Liabilities$48,20950,377$Common Stock$30,29330,293$Retained Earnings$110,400132,350$Total Liabilities and Equity$$402,725$$$427,910$FY$2023$INCOME STATEMENT:Revenue$$299,660$Cost of Goods Sold$175,432$General and Administrative$16,243$Depreciation Expense$15,004$Earnings Before Interest and Taxes$92,981$Interest Expense$3,605$Pretax Net Income$89,376$Income Taxes$20,915$Net Income$$68,461$YOU MUST USE EXCEL'S FUNCTIONALITY TO PERFORM ALL CALCULATIONS TO EARN CREDIT $($insert rows as needed$)$DO NOT MERELY TYPE IN NUMBERS OR IMPORT TEXT FROM OTHER SOURCES:$7.$ What was Apple's Current Ratio at the end of $2023?8.$ What was Apple$$s Quick Ratio at the end of $2023?9.$ What was Apple$$s Debt to Equity Ratio at the end of $2023?($AP is not part of Debt for purposes of this calculation$)10.$ What was Apple's Times Interest Earned Ratio in $2023?11.$ Assuming that all Apple$$s sales in fiscal $2023$ were on credit, how many days, on average, did it take Apple to sell its inventory in $2023?($For balance sheet accounts, use the average of the beginning and end$-$of$-$year balances$)\mathrm{.}12.$ Assuming that all Apple$$s sales in fiscal $2023$ were on credit, what was the company$$s Days Sales Outstanding in $2023?($For balance sheet accounts, use the average of the beginning and end$-$of$-$year balances$)\mathrm{.}13.$ How much did Apple pay out in dividends during fiscal $2023?14.$ What was Apple's dividend payout ratio during fiscal $2023?15.$ What as Apple's Equity Multiplier for $2023?16.$ What was Apple$$s Return on Equity for $2023?($For balance sheet accounts, use the average of the beginning and end$-$of$-$year balances$)\mathrm{.}17.$ If Apple had an average of $4,037$ million common shares outstanding during $2023$ and its stock is currently worth $$175$ per share,what is its Price : Earnings $($PE$)$ ratio?$18.$ If the analysts who follow Apple project $2024$ sales to increase by $7\mathrm{.}4\%$ over $2023,$ its after$-$tax profit margin to remain the same,and anticipate a $60\%$ dividend payout ratio, what are the projected retained earnings by the end of $2024?19.$ Assuming that Apple$$s net working capital is expected to vary directly with sales, based on a projected $7\mathrm{.}8\%$ sales increase in $2024,$what is the projected accounts receivable balance at the end of $2024?20.$ If the management of Apple projects that by the end of $2023,$ it was operating at $54\%$ of capacity, what is its full level capacity of sales?