Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 43

Computing and Interpreting the Fixed Asset Turnover Ratio from a Financial Analyst's Perspective
The following data were included in a recent Apple Inc. annual report(in millions):

Required:
1. Compute Apple's fixed asset turnover ratio for 2008, 2009, 2010, and 2011. Round your answer to one decimal place.
2. Was Apple able to maintain its strong financial performance in recent years when the economy was faltering