Selected data from the September 27, 2008, and September 29, 2007, consolidated balance sheets and income statements
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Required:
a. Calculate the amount of Apple€™s gross profit for each year. Has gross profit as a percentage of sales changed significantly during the past year?
b. Calculate the amount of Apple€™s operating income for each year. Has operating income as a percentage of sales changed significantly during the past year?
c. After completing parts a and b, calculate the other missing amounts for eachyear.
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a 2008 2007 Net sales 32479 24006 Cost of sales 21334 15852 Gross profit 11145 8154 Gross profitnet ...View the full answer
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Related Book For 
Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
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