Question: 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.
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 Net sales Cost of sales Research and development expenses Selling, general, and administrative expenses Operating income Other income, net Provision or income taxes Net Income 2017 $229,234 141,048 11,581 15,261 2 2 IS, 230 $ 48,351 2016 $215.639 131,376 10,045 14,194 1,348 $ 45,687 Required: a. Calculate the amount of Apple's gross profit for each yeat. Has gross profit as a percentage of sales changed significantly during the past year? b. Calculate the amount of Apple's operating income for each year Has aerating income as a percentage of sales changed significantly during the past year? c. After completing requirements a and b, calculate the other missing amounts for each year. Indicate the financial statement effect Complete this question by entering your answers in the tabs below. Redurred A Required Required 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.) brottor 2017 Gross profil for 2016 to change thgros proftrato significant? Required
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