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Answer:
2014 2015 2016
Net Sales 182,795 233,715 (+27.9%) 215,639 (+18.0%)
Cost of Sales 112,258 140,089 (+24.8%) 131,376 (+17.0%)
operating income 52,503 71,230 (+35.7%) 60,024 (+14.3%)
other income
(expense) net 980 1,285 (+31.1%) 1,348 (37.5%)
net income 39,510 53,394 (+35.1%) 45,687 (15.6%)
2015 2016
Total assets 290,345 321,686
Current assets
(% of total assets) 89,378 (30.8%) 106,689 (33.2%)
PP&E 22,471 (7.7%) 27,010 (25.3%)
goodwill plus
intangible assets 9,009 (10.1%) 8,620 (8.0%)
3. Using current assets as a percent of total assets to measure liquidity, did Apple's asset makeup become more liquid or less liquid in 2016
Apple became more liquid in 2016, because current assets as % of total assets were 30.8% in 2015, and 33.2% in 2016.
2014 2015 2016
1. Net Sales [tex]182,795[/tex] [tex]233,715 (+27.9[/tex]%) [tex]215,639 (+18.0[/tex]%)
Cost of Sales [tex]112,258[/tex] [tex]140,089[/tex] [tex](+24.8[/tex]%) [tex]131,376 (+17.0[/tex]%)
operating income [tex]52,503[/tex] 71,230 (+35.7%) [tex]60,024 (+14.3[/tex]%)
other income
(expense) net [tex]980[/tex] 1,285 (+31.1%) [tex]1,348 (37.5[/tex]%)
net income [tex]39,510[/tex] 53,394 (+35.1%) [tex]45,687 (15.6[/tex]%)
Financial statements
2015 2016
2. Total assets [tex]290,345[/tex] [tex]321,686[/tex]
Current assets
(% of total assets) [tex]89,378 (30.8[/tex]%) [tex]106,689 (33.2[/tex]%)
PP&E [tex]22,471 (7.7[/tex]%) [tex]27,010 (25.3[/tex]%)
goodwill plus
intangible assets [tex]9,009 (10.1[/tex]%) [tex]8,620 (8.0[/tex]%)
3. When Apple became more liquid in 2016, because current assets as % of total assets were 30.8% in 2015, and also 33.2% in 2016.
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