We are given the following information for Apple Limited.

Sales (credit)		$4,576,000
Cash		150,000
Inventory		887,000
Current liabilities		796,000
Asset turnover		1.45	times
Current ratio		2.80	times
Debt-to-assets ratio		35	%
Receivables turnover		8	times

Current assets are composed of cash, marketable securities, accounts receivable, and inventory.

Calculate the following balance sheet items:

a.	Accounts receivable	$
b.	Marketable securities	$
c.	Capital assets	$
d.	Long-term debt	$

Answer rating: 100% (QA)

a To calculate the accounts receivable we can use the receivables turnover ... View the full answer