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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.

    $2.19