The following information was available for the year ended December 31, 2022:Sales $ 300,000Net income 50,000Average total assets 750,000Average total stockholders' equity 500,000Turnover for the year ended December 31, 2022 was:

The following information was available for the year ended December 31, 2022:Earnings before interest and taxes (operating income) $ 50,000Interest expense 10,000Income tax expense 12,000Net income 28,000Total assets at year-end 200,000Total liabilities at year-end 120,000The debt ratio at December 31, 2022 was:

The following information was available for the year ended December 31, 2022:Net sales $ 300,000Cost of goods sold 210,000Average accounts receivable for the year 15,000Accounts receivable at year-end 18,000Average inventory for the year 60,000Inventory at year-end 70,000The inventory turnover for 2022 was:

(Amounts Expressed in Millions) 2020 2019For the Fiscal Years Ended September 26 and September 28, respectively:Net sales $ 274,515 $ 260,174Costs of sales 169,559 161,782Operating income 66,288 63,930Net income $ 57,411 $ 55,256At Year-End: Assets    Current assets:    Cash and cash equivalents $ 38,016 $ 48,844Short-term marketable securities 52,927 51,713Accounts receivable, net 16,120 22,926Inventories 4,061 4,106Vendor non-trade receivables 21,325 22,878Other current assets 11,264 12,352Total current assets 143,713 162,819Noncurrent assets:    Long-term marketable securities 100,887 105,341Property, plant, and equipment, net 36,766 37,378Other noncurrent assets 42,522 32,978Total noncurrent assets $ 180,175 $ 175,697Total assets $ 323,888 $ 338,516Liabilities and Shareholders’ Equity    Current liabilities:    Accounts payable $ 42,296 $ 46,236Other current liabilities 42,684 37,720Deferred revenue 6,643 5,522Commercial paper 4,996 5,980Current portion of term debt 8,773 10,260Total current liabilities 105,392 105,718Noncurrent liabilities:    Noncurrent portion of term debt 98,667 91,807Other noncurrent liabilities 54,490 50,503Total noncurrent liabilities 153,157 142,310Total liabilities 258,549 248,028Shareholders’ equity:    Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,976,763 and 17,772,945 shares issued and outstanding, respectively 50,779 45,174Retained earnings 14,966 45,898Accumulated other comprehensive income/(loss) (406) (584)Total shareholders’ equity 65,339 90,488Total liabilities and shareholders’ equity $ 323,888 $ 338,516At September 29, 2018, total assets were $365,725 and total shareholders’ equity was $107,147.Required:Calculate Apple Incorporated’s working capital, current ratio, and acid-test ratio at September 26, 2020, and September 28, 2019.

The following amounts were reported on the December 31, 2022, balance sheet:Retained earnings $ 140,000Buildings and equipment, net of accumulated depreciation 150,000Accounts receivable 38,000Common stock 20,000Wages payable 5,000Cash 13,000Land 60,000Accounts payable 25,000Bonds payable 90,000Merchandise inventory 24,000The current ratio at December 31, 2022 was:

8% Debentures (2025) 250Administrative expenses 171Cash and cash equivalents 14Cost of sales 466Debenture interest 8Distribution costs 63Dividends paid 80Inventory at 31 December 2020 33Issued capital:Ordinary shares of $0.25 each at 31 December 2020 500Non-current assetsCost 1140Provision for depreciation at 1 January 2020 140Retained earnings at 1 January 2020 129Revenue 923Share premium at 31 December 2020 70Trade payables 42Trade receivables 792054 2054The following information is also available at 31 December 2020.1 Administrative expenses included insurance of $16 000 for four months ended31 January 2021.2 Depreciation should be provided on non-current assets at 25% per annum using the reducingbalance method. Depreciation charges should be allocated 20% to distribution costs and 80%to administrative expenses.3 The account of a credit customer, $3000, should be written off to administrative expenses asan irrecoverable debt.4 Debenture interest was outstanding for the second half of the year. The directors had issuedadditional debentures of $50 000 on 1 October 2020.