Financial Reporting Problem: Apple Inc.

CT$5\mathrm{.}1$ The financial statements of Apple Inc. are presented in Appendix A$.$ The complete annual report, including the notes to the financial statements, is available at the company's website.

Instructions

Answer the following questions using Apple's Consolidated Statements of Operations.

a$.$ What was the percentage change in $(1)$ net sales and in $(2)$ net income from $2016$ to $2017$ and from $2017$ to $2018?$

b$.$ What was the company's gross profit rate in $2016,2017,$ and $2018?$

c$.$ What was the company's percentage of net income to net sales in $2016,2017,$ and $2018?$ Comment on any trend in this percentage.