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.

Required:

a. 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?

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?

c. After completing parts a and b, calculate the other missing amounts for each year.

Transcribed Image Text:

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