Question: Selected data from the September 27, 2008, and September 29, 2007, consolidated balance sheets and income statements for the years then ended for Apple Inc.

Selected data from the September 27, 2008, and September 29, 2007, consolidated balance sheets and income statements for the years then ended for Apple Inc. follow. All amounts are reported in millions.

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.

2008 2007 Net Sales Cost of salas... Research and development expensos. .. Seling, general, and administrative expenses Operating income... Other income, net Provision for income taxes.-... Net incme. $32,479 21,334 1,109 3,761 2 2 2,061 $4.834 $24,006 15,852 782 2,963 .. 599 $3.496

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a 2008 2007 Net sales 32479 24006 Cost of sales 21334 15852 Gross profit 11145 8154 Gross profitnet ... View full answer

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