Selected data from the September 30, 2017, and September 24, 2016, consolidated balance sheets and income statements for the years then ended for Apple Inc. follow. All amounts are reported in millions.

	2017	2016
Net sales	$	229,234		$	215,639
Cost of sales		141,048			131,376
Research and development expenses		11,581			10,045
Selling, general, and administrative expenses		15,261			14,194
Operating income		?			?
Other income, net		?			1,348
Provision for income taxes		15,738			?
Net income	$	48,351		$	45,687

Required:

1. Calculate the amount of Apple's gross profit for each year.Has gross profit as a percentage of sales changed significantly during the past year?
2. Calculate the amount of Apple's operating income for each year.Has operating income as a percentage of sales changed significantly during the past year?
3. After completing requirementsaandb,calculate the other missing amounts for each year. Indicate the financial statement effect.

ON N N |7 . M | | DOG | |7 0 | | |G | CAS | KG BE | |5 X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F... P A" to Chapter 2 Problems (Unlimited Attempts) i Saved Help Save & Exit Submit Check my work 8 Net income $ 48, 351 $ 45, 687 Required: 10 a. Calculate the amount of Apple's gross profit for each year. Has gross profit as a percentage of sales changed significantly during points the past year? b. Calculate the amount of Apple's operating income for each year. Has operating income as a percentage of sales changed significantly during the past year? eBook c. After completing requirements a and b, calculate the other missing amounts for each year. Indicate the financial statement effect. Print References Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the amount of Apple's gross profit for each year. Has gross profit as a percentage of sales changed significantly during the past year? (Enter your answers in millions of dollars. ) Gross profit for 2017 Gross profit for 2016 Is the change in gross profit ratio significant? Mc Graw Hill 66.F LO P W 11:44 PM Mostly clear 6/8/2022 22ON N N |7 . M | | DOG | |7 0 | | |G | CAS | KG BE | |5 X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F... P A" to Chapter 2 Problems (Unlimited Attempts) i Saved Help Save & Exit Submit Check my work 8 Net income $ 48, 351 $ 45, 687 Required: 10 a. Calculate the amount of Apple's gross profit for each year. Has gross profit as a percentage of sales changed significantly during points the past year? b. Calculate the amount of Apple's operating income for each year. Has operating income as a percentage of sales changed significantly during the past year? eBook c. After completing requirements a and b, calculate the other missing amounts for each year. Indicate the financial statement effect. Print References Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the amount of Apple's operating income for each year. Has operating income as a percentage of sales changed significantly during the past year? (Enter your answers in millions of dollars.) Operating income for 2017 Operating income for 2016 Is the change in operating income as a percentage of net sales significant? Mc Graw Hill 66.F VA LO P W 11:44 PM Mostly clear 6/8/2022 22ON N N |7 . M | | DOG | |7 0 | | |G | CAS | KG BE | |5 X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F... P A" to Chapter 2 Problems (Unlimited Attempts) i Saved Help Save & Exit Submit Check my work 8 Net income $ 48, 351 $ 45, 687 Required: 10 a. Calculate the amount of Apple's gross profit for each year. Has gross profit as a percentage of sales changed significantly during points the past year? b. Calculate the amount of Apple's operating income for each year. Has operating income as a percentage of sales changed significantly during the past year? eBook c. After completing requirements a and b, calculate the other missing amounts for each year. Indicate the financial statement effect. Print References Complete this question by entering your answers in the tabs below. Required A Required B Required C After completing requirements a and b, calculate the other missing amounts for each year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect. Enter your answer in millions of dollars.) 2017 2016 Operating income Other income, net 1,348 Income before taxes Provision for income taxes (15,738) Net income $ 48,351 $ 45,687 Required B Required C > Mc Graw Hill 66.F LO P W 11:45 PM Mostly clear 6/8/2022 22