Use the following information to answer this question. Windswept, Incorporated2017 Income Statement($ in millions)Net sales $ 11,000Cost of goods sold 8,200Depreciation 395Earnings before interest and taxes $ 2,405Interest paid 110Taxable income $ 2,295Taxes 689Net income $ 1,606 Windswept, Incorporated2016 and 2017 Balance Sheets($ in millions)  2016 2017   2016 2017Cash $ 420 $ 445 Accounts payable $ 2,060 $ 2,005Accounts receivable 1,210 1,110 Long-term debt 1,120 1,580Inventory 1,980 1,820 Common stock 3,460 3,190Total $ 3,610 $ 3,375 Retained earnings 700 950Net fixed assets 3,730 4,350      Total assets $ 7,340 $ 7,725 Total liability & equity $ 7,340 $ 7,725What were the total dividends paid for 2017?

Net income reported for 2016 is P200, 000, the adjusted balance for liability is P30, 000, capital beginning is P100, 000, and current assets totaled P150, 000.Total assets isSelect one:a.P330,000b.P350,000c.P230,000d.P250,000

Required informationSkip to question[The following information applies to the questions displayed below.] The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 170,000Income Tax Expense 19,230Merchandise Sales (gross revenue) for Cash 250,000Merchandise Sales (gross revenue) on Credit 44,000Office Expense 19,500Sales Returns and Allowances 7,350Salaries and Wages Expense 42,200Required:Prepare a multistep income statement for external reporting purposes.

Required informationSkip to question[The following information applies to the questions displayed below.] The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold $ 170,000Income Tax Expense 19,230Merchandise Sales (gross revenue) for Cash 250,000Merchandise Sales (gross revenue) on Credit 44,000Office Expense 19,500Sales Returns and Allowances 7,350Salaries and Wages Expense 42,200Did the gross profit percentage in the current year improve, or decline, relative to the 39% gross profit percentage in the prior year? multiple choiceImproveDecline

(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.

Following are comparative balance sheets spanning 3 years. Express the balance sheets in common-size percentages for each year.Comparative Balance SheetsFor Years Ended December 31  Current Year 1 Year Ago 2 Years AgoCash $ 640 $ 525 $ 552Accounts receivable, net 960 1,200 1,104Merchandise inventory 2,000 1,650 1,242Plant assets, net 4,400 4,125 4,002Total assets $ 8,000 $ 7,500 $ 6,900Accounts payable $ 1,600 $ 825 $ 966Long-term notes payable 1,760 1,875 1,518Common stock 3,440 3,675 3,450Retained earnings 1,200 1,125 966Total liabilities and equity $ 8,000 $ 7,500 $ 6,900