The following financials are presented for Apple, Inc. for the years 2017 and 2018. (All values...

The following financials are presented for Apple, Inc. for the years 2017 and 2018. (All values in USD million)

	2018	2017
Cash and cash equivalents	25,913	20,289
Marketable securities	40,388	53,892
Accounts receivable, net	23,186	17,874
Inventories	3,956	4,855
Other current assets	37,896	31,735
Total current assets	1,31,339	1,28,645
Total non-current assets	2,34,386	2,46,674
Total Assets	$3,65,725	$3,75,319

Current liabilities:
Accounts payable	$55,888	$44,242
Other current liabilities	60,978	56,572
Total current liabilities	$1,16,866	$1,00,814
Total non-current liabilities	1,41,712	1,40,458
Total liabilities	2,58,578	2,41,272
Common Stock	40,201	35,867
Retained Earnings	66,946	98,180
Total shareholders' equity	1,07,147	1,34,047
Total liabilities and shareholders' equity	3,65,725	3,75,319

Net Sales	2,65,595	2,29,234
Cost of Sales	1,63,766	1,41,048

Required:

Determine the operating Cycle and Cash Cycle for the year 2018.
Based on the operating cycle and cash cycle determined above, comment on the liquidity position of Apple, Inc.

Expert Solution

jeff jeffy answered 1 year ago

The condensed financial statements of Underwood Company for the years 2017 and 2018 are presented as...

The condensed financial statements of Underwood Company for the years 2017 and 2018 are presented as follows. (Amounts in thousands.) UNDERWOOD COMPANY Balance Sheets December 31 2018 2017 Current assets Cash and cash equivalents $330 $360 Accounts receivable (net) 470 400 Inventory 460 390 Prepaid expenses 120 160 Total current assets 1,380 1,310 Investments 10 10 Property, plant, and equipment 420 380 Intangibles and other assets 530 510 Total assets $2,340 $2,210 Current liabilities $900 $790 Long-term liabilities 410 380...

Selected information for Muffin’s Muffins Inc. for 2017 is presented below. All amounts are pretax. The...

Selected information for Muffin’s Muffins Inc. for 2017 is presented below. All amounts are pretax. The effective tax rate is 30% . ( USGAAP) Gain on sale of land 193,400 Selling expenses 287,600 Accounts receivable, net 632,900 Cumulative increase in income for reduced estimate of bad debts from 3.5% to 2.25% 71,800 Sales 5,130,000 Accumulated depreciation 1,526,300 Administrative expenses 387,600 Loss from operations of discontinued line of business $ 365,000 Dividend Income 58,000 Common stock, 240,000 shares 10,172,300 Interest expense...

Selected information for Muffin’s Muffins Inc. for 2018 is presented below. All amounts are pretax. The...

Selected information for Muffin’s Muffins Inc. for 2018 is presented below. All amounts are pretax. The effective tax rate is 30%. Loss from operations of discontinued line of business $ 420,000 Inventory 3,185,000 Administrative expenses 479,000 Retained earnings, beg balance 2,749,600 Interest expense 101,600 Accounts receivable, net 573,200 Unrealized holding loss on available-for-sales securities 118,800 Dividends declared and paid 241,750 Cumulative decrease in income for change in depreciation method ...

The following financial information isfor Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):

The following financial information isfor Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):Item/Account20182017Cash25,000$24,000Accounts Receivable55,00052,000Inventory44,00048,000Current Liabilities85,00042,000Net Sales (all credit)550,000485,000Cost of Goods Sold288,000265,000Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)

Excerpts from Hulkster Company's December 31, 2018 and 2017, financial statements are presented below: 2018 2017...

Excerpts from Hulkster Company's December 31, 2018 and 2017, financial statements are presented below: 2018 2017 Accounts receivable $ 40,000 $ 36,000 Merchandise inventory 28,000 35,000 Net sales 190,000 186,000 Cost of goods sold 114,000 108,000 Total assets 425,000 405,000 Total shareholders' equity 240,000 225,000 Net income 32,500 28,000 1. Hulkster's 2018 average collection period is____________________ 2. Hulkster's 2018 average days in inventory is (rounded)______________________ 3. Hulkster's 2018 return on assets is (rounded):___________________________ 4. What does the average collection...

For 2018. Christina, who is single, purchased 220 shares of Apple Inc. stock several years ago...

For 2018. Christina, who is single, purchased 220 shares of Apple Inc. stock several years ago for $12,320. During her year-end tax planning, she decided to sell 110 shares of Apple for $5,610 on December 30. However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the 110 shares (cost of $5,830) of Apple back before prices skyrocket. (1) (a) What is Christina's deductible loss on the sale of 110 shares? (b) What is...

: Use US GAAP. Selected information for Muffin’s Muffins Inc. for 2017 is presented below. All...

: Use US GAAP. Selected information for Muffin’s Muffins Inc. for 2017 is presented below. All amounts are pretax. The effective tax rate is 30%. Gain on sale of land 193,400 Selling expenses 287,600 Accounts receivable, net 632,900 Cumulative increase in income for reduced estimate of bad debts from 3.5% to 2.25% 71,800 Sales 5,130,000 Accumulated depreciation 1,526,300 Administrative expenses 387,600 Loss from operations of discontinued line of business $ 365,000 Dividend Income 58,000 Common stock, 240,000 shares 10,172,300 Interest...

Question 2 The following are the inventories for the years 2016, 2017, and 2018 for Parry...

Question 2 The following are the inventories for the years 2016, 2017, and 2018 for Parry Company: Cost Market January 1, 2016 $50,000 $50,000 December 31, 2016 64,000 60,000 December 31, 2017 71,000 70,000 December 31, 2018 75,000 78,000 a. Assume Parry uses the allowance method and a perpetual inventory system. Prepare the necessary journal entries to record: 1. the correct inventory valuation on December 31, 2016 2. the reduction in inventory when the inventory from December 31, 2016 is...

Post a Balance Sheet for Apple Inc for couple years, and an Income Statement for Apple...

Post a Balance Sheet for Apple Inc for couple years, and an Income Statement for Apple Thank you.

Concerning Salesforce, Inc. 2018 financials; Does the company use the indirect or direct method for preparing...

Concerning Salesforce, Inc. 2018 financials; Does the company use the indirect or direct method for preparing the Cash flow statement? What is the trend in cash from operations for the years presented? What are the two largest items included in cash from investing activities?

Question