Question: Selected data from the September 27, 2014, and September 28, 2013, consolidated balance sheets and income statement for the years then ended for Apple Inc.
Selected data from the September 27, 2014, and September 28, 2013, consolidated balance sheets and income statement for the years then ended for Apple Inc. follow. All amounts are reported in millions.
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Required:
a. Calculate the amount of Apples 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 each year.
2014 $182,795 112,258 6,041 11,993 2013 $170,910 106,606 4,475 10,830 Net sales Cost of sales Selling, general, and administrative expenses Operating income Other income, net Provision for income taes. Net income 1,156 13,973 39,510 S 37,037
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a Apple was able to achieve amazingly high sales growth rates for more than a decade since the intro... View full answer
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