The financial statements for Apple Inc. are presented in Appendix A. 

Instructions 

Answer these questions using the Statement of Operations. 

a. What was the percentage change in net sales and in net income from the year ended September 24, 2016, to the year ended September 30, 2017? 

b. What was the profit margin in each of the 3 years? (Use “Net Sales.”) Comment on the trend. 

c. What was Apple’s gross profit rate in each of the 3 years? (Use “Net Sales” amounts.) Comment on the trend.