Question: Apple Inc. Selected data from the September 24, 2011, and September 25, 2010, consolidated balance sheets and income statements for the years then ended for

Apple Inc. Selected data from the September 24, 2011, and September 25, 2010, consolidated balance sheets and income statements for the years then ended for Apple Inc. follow. All amounts are reported in millions.


Apple Inc. Selected data from the September 24, 2011, and


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.

2011 2010 Cost of sales. . .. Research and development expenses.... Sel 64,431 2,429 7,599 $65,225 39,541 1,782 5,517 ling. general, Operating income Other income, net. and administrative expenses 155 8,283 25,922 Net income. . $14,013

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a 2011 2010 Net sales 108249 65225 Cost of sales 64431 39541 Gross profit 43818 25684 Gross profitnet sales 405 394 Apple has achieved absolutely amaz... View full answer

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