Question

Jaime has the following information about Apple Inc. Net income for the most recent fiscal year:...

Jaime has the following information about Apple Inc. Net income for the most recent fiscal year: $35145 million; sales revenue: $219609 million; total assets: $226503 million; total stockholder equity: $124317 million. What is Apple’s return on equity (ROE)? Express your answer in decimal form to 3 decimal places of accuracy.

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Answer #1

Return on equity (ROE)?= Net Income / Return on Equity x 100

                                               =$35,145/$124,317 x 100

                                                =28.270%

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