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 3 months ago

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