Question: The following data were included in a recent Apple Incorporated annual report (in millions): 2015 2016 2017 2018 Net revenue $ 233,715 $ 215,640 $
The following data were included in a recent Apple Incorporated annual report (in millions): 2015 2016 2017 2018 Net revenue $ 233,715 $ 215,640 $ 229,230 $ 265,600 Net property, plant, and equipment 22,471 27,010 33,780 41,300 Required: Compute Apple's fixed asset turnover ratio for 2016, 2017, and 2018. During 2018, Microsoft reported a fixed asset turnover ratio of 3.8. Was Apple's turnover better or worse than Microsoft's in that year?
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