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# Accounting: Liabilities and Shareholders' Equity

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Liabilities and Shareholders' Equity

Accounts payable............................................... \$5,520 \$4,970
Accrued expenses............................................... 8,572 4,310
Non-current liabilities......................................... 4,450 1,535
Common stock, no par value................................. 7,177 5,368
Retained earnings.............................................. 13,845 9,101
Accumulated other comprehensive income............. 8 63
Total liabilities and shareholders' equity................. \$39,572 \$25,247

On September 30, 2006, total assets were \$17,205 and total shareholders' equity was \$9,984.

Required:
a. Calculate Apple Inc.'s working capital, current ratio, and acid-test ratio at September 27, 2008, and September 29, 2007. Round your ratio answers to one decimal place.
b. Calculate Apple's ROE for the years ended September 27, 2008, and September 29, 2007. Round your percentages answers to one decimal place.

Please provide step in how you achieved the answer

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#### Solution Summary

The solution gives detailed steps on computing working capital, current ratio, acid-test ratio and ROE.

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