ACC 101-Financial Accounting Case 2 - Financial Statement Analysis Part 2-120 Points Date Name Use the information contained In these financial statements and notes to complete this case. All answers should be for the most current year (September 30, 2017 unless asked otherwise. Many companies show amounts in the thousands or millions-please state amounts as shown on the financial statements. Do not add zeros. You do not need to include dollar signs. Selected financial statements of Apple, Inc. follow. Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS In millions, except number of shares which are refected in thousands and per share amounts) Years ended 2017 2016 2015 Net sales Cost of sales $ 229234S 215.639 233,715 140,089 131,376 141,048 88,18664263 9 Gross margin 93,626 Operating expenses: Research and development Selling, general and administrative 11.581 15.261 26,842 10.045 14.194 24.239 8.067 14,329 Total operating expenses 1230 1.285 72.515 19.121 53.394 61,344 60.024 Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income 2.745 64,089 15.738 48.35t 1.348 61-372 15.685 45.687 Eamings per share Basic Diluted 927 $ 835$ 921 $ 831 S 922 9.28 Gash dnedends declared per share 240 s 2.18 1.98