Question: Key comparative figures for Apple and Google follow. $ millions Apple Google Current Year Prior Year Current Year Prior Year Net sales $ 260,174 $

Key comparative figures for Apple and Google follow.

$ millions	Apple	Google
Current Year	Prior Year	Current Year	Prior Year
Net sales	$ 260,174	$ 265,595	$ 161,857	$ 136,819
Cost of sales	161,782	163,756	71,896	59,549

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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