Use Apple’s in Appendix A to answer the following.
1. Identify the total amount of cash and cash equivalents for fiscal years ended (a) September 30, 2017, and (b) September 24, 2016.
2. Compute cash and cash equivalents as a percent (rounded to one decimal) of total current assets, total current liabilities, total shareholders’ equity, and total assets at fiscal year-end for both 2017 and 2016.
3. Compute the percent change (rounded to one decimal) between the beginning and ending year amounts of cash and cash equivalents for fiscal years ended (a) September 30, 2017, and (b) September 24, 2016.
4. Compute the days’ sales uncollected (rounded to one decimal) as of
(a) September 30, 2017,
(b) September 24, 2016.
5. Does Apple’s collection of receivables show a favorable or unfavorable change?
