Question
In: Finance
In December 2015, Apple had cash of $38.02 billion, current assets of$75.99 billion, and current...
In December 2015, Apple had cash of $38.02 billion, current assets of $75.99 billion, and current liabilities of $75.91 billion. It also had inventories of $2.45 billion.
a. What was Apple's current ratio?
b. What was Apple's quick ratio?
c. In January 2016,
Hewlett-Packard had a quick ratio of 0.66 and a current ratio of 0.90.
What can you say about the asset liquidity of Apple relative to Hewlett-Packard?
Solutions
Expert Solution
current ratio standard rate is 2:1
Quick ratio standard rate is 1:1
jeff jeffy answered 2 years agoRelated Solutions
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2016
2015
Assets
2016
2015
Current assets
2016
2015
Cash and cash equivalents
3,657
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Notes and accounts receivable
21,394
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10,877
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Materials and supplies
4,203
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investments 40,000.00 3 Available-for-sale investments (at fair
value) $185,000.00 There were no purchases or sales of
available-for-sale investments during 2016. On December 31, 2016,
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57,000
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225,000
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