Question: Key comparative figures for Apple and Google follow. Apple Current Current $ millions Year Net sales. $265,595 Cost of sales $163,756 Prior Year $229,234

Key comparative figures for Apple and Google follow. Apple Current Current $

Key comparative figures for Apple and Google follow. Apple Current Current $ millions Year Net sales. $265,595 Cost of sales $163,756 Prior Year $229,234 $141,048 Year $136,819 $ 59,549 Google Prior Year $110,855 $ 45,583 Required 1. Compute the amount of gross margin and the gross margin ratio for the two years shown for each of these companies. 2. Which company earns more in gross margin for each dollar of net sales for the current year? 3-a. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Apple? 3-b. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Google? 4-a. Is the change in the company's current-year gross margin favorable or unfavorable for Apple? 4-b. Is the change in the company's current-year gross margin favorable or unfavorable for Google?

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