Use Apple's financial statements in Appendix A to answer the following. Required: 1. Using fiscal 2017 as the base year, compute trend percents for fiscal years 2017, 2018, and 2019 for total net sales, total cost of sales, operating income, other income (expense) net, provision for income taxes, and net income. 2. Compute common-size percents for fiscal years 2018 and 2019 for the following categories of assets: (a) total current assets; (b) property, plant and equipment, net; and (c) accounts receivable, net. 3. Using current assets as a percent of total assets to measure liquidity, did Apple's asset makeup become more liquid or less liquid in 2019?

	Fiscal 2019			Fiscal 2018			Fiscal 2017
Net Sales		%			%			%
Cost of sales		%			%			%
Operating income		%			%			%
Other income (expense)		%			%			%
Provision for income taxes		%			%			%
Net income		%			%			%

	2019			2018
Total current assets		%			%
Property, plant and equipment, net		%			%
Accounts receivable, net		%.			%

Apple's asset makeup become

in 2019.