Prepare a common-size income statement by expressing each item on the income statement as a percent of total sales or total revenue. DoF this directly in the financial statements, using appropriate Excel formulas. (Manually entered responses will earn zero credit.) Do this for all years on the income statement.

1. Use the income statement to respond to the following items:

1. What are the major expenses? What percentage of total revenue does each represent?

2. Are there any unusual or discontinued items reported on the income statement? If so, are they large in magnitude?

3. Was the company more or less profitable when compared with the prior year?

ep. A 1 CONSOLIDATED STATEMENTS OF OPERATIONS- USD ($) shares in Thousands, $ in Millions 2 3 Net sales 4 Cost of sales 5 Gross margin 6 Operating expenses: 7 Research and development 8 Selling, general and administrative 9 Total operating expenses 10 Operating income 11 Other income/(expense), net 12 Income before provision for income taxes 13 Provision for income taxes 14 Net income 15 Earnings per share: 16 Basic (in dollars per share) 17 Diluted (in dollars per share) 18 Shares used in computing earnings per share: 19 Basic (in shares) 20 Diluted (in shares) 21 Products 22 Net sales 23 Cost of sales 24 Services 25 Net sales 26 Cost of sales 27 28 29 30 31 32 33 34 35 Cover Page CONSOLIDATED STATEMENTS OF OPER B Sep. 25, 2021 C 12 Months Ended Sep. 26, 2020 D Sep. 28, 2019 $365,817 $365,817 212,981 169,559 152,836 104,956 21,914 18,752 21,973 19,916 43,887 38,668 66,288 108,949 258 109,207 14,527 $ 94,680 803 67,091 9,680 $ 57,411 $5.67 $5.61 $ 3.31 $ 3.28 16,701,272 16,864,919 17,352,119 17,528,214 $ 297,392 192,266 $ 220,747 151,286 53,768 68,425 $ 20,715 $ 18,273 CONSOLIDATED STATEMENTS OF COMP $365,817 161,782 98,392 16,217 18,245 34,462 63,930 1,807 65,737 10,481 $ 55,256 $2.99 $ 2.97 18,471,336 18,595,651 $ 213,883 144,996 46,291 $ 16,786 E