Use Apple's financial statements inAppendix Ato answer the following.

Required:

1.Using fiscal 2015 as the base year, compute trend percents for fiscal years 2015, 2016, and 2017 for net sales, cost of sales, operating income, other income (expense) net, provision for income taxes, and net income.

2.Compute common-size percents for fiscal years 2016 and 2017 for the following categories of assets:(a)total current assets;(b)property, plant and equipment, net; and(c)goodwill plus acquired intangible assets, 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 2017?