Reference no: EM132564245
Obtain Apple's 2016 10-K (filed October 28, 2016) either through the "Investor Relations" portion of its website (web search for "Apple Investor Relations") or go to www.sec.gov and click "Company Filings Search" under "Filings."
Using Apple's 10-K, answer the following questions (Hint: It may be easier to use the Word or PDF file and use the search feature within the program):
Question 1: Calculate Apple's current, quick, and cash ratios for 2015 and 2016. The industry averages for these ratios for 2016 were 1.72, 1.41, and 0.77, respectively. Comment on Apple's short-term liquidity.
Question 2: Calculate Apple's debt to equity, long-term debt to equity, and times interest earned (accrual basis) for 2015 and 2016. The industry averages for these ratios for 2016 were 52.42%, 36.41%, and 13.83, respectively. You will need to read Note 3 to find the amount of interest expense. Comment on Apple's mix of debt and equity and long-term solvency.
Question 3: Calculate Apple's return on equity for 2015 and 2016 (stockholders' equity for 2014 was $111,547,000,000). The industry average for 2016 was 15.26%. Comment on Apple's profitability.
Question 4: Calculate Apple's Dividend Payout, Stock Repurchase Payout and Total Payout for 2015 and 2016. What are Apple's objectives with their dividend policy and stock repurchase plan (See the "Capital Return Program" portion of Item 7: Management Discussion and Analysis)?
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