Refer to Apples financial statements in Appendix A to answer the following. 1. Using fiscal 2011 as

Question:

Refer to Apple’s financial statements in Appendix A to answer the following.

1. Using fiscal 2011 as the base year, compute trend percents for fiscal years 2011, 2012, and 2013 for net sales, cost of sales, operating income, other income (expense) net, provision for income taxes, and net income. (Round percents to one decimal.)

2. Compute common-size percents for fiscal years 2012 and 2013 for the following categories of assets: (a) total current assets, (b) property, plant and equipment, net, and (c) goodwill plus acquired intangible assets, net. (Round percents to one decimal.)

3. Comment on any notable changes across the years for the income statement trends computed in part 1 and the balance sheet percents computed in part 2.

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