2P5- 50. Research and Development Expense Iaternational Business Machines Corporation (IBM) reported the following on its 2015 income statement. INTERNATIG BUSINES MACHINIE CORPORA nillions Fiscal 2015 Fiscal 2013 Net sales. Cost of sales .. $81,741 . .5,247 7,355 Fiscal 2014 $92,793 $ 5,437 $98,367 5,743 6,809 Number of new patents .. 7,534 Required a. Compare IBM's research and development expense to other publicly traded companies and those in b. IBM's spending on research and development declined during 2015. Quantify this trend. Is this of c. What other data might analysts and investors collect to form an opinion about the level and effective- the same industry. Comment on the comparison. (Hint: Refer to Exhibit 5.3.) potential concern to investors? ness of IBM's R&D endeavors? LO1 2P5- 50. Research and Development Expense Iaternational Business Machines Corporation (IBM) reported the following on its 2015 income statement. INTERNATIG BUSINES MACHINIE CORPORA nillions Fiscal 2015 Fiscal 2013 Net sales. Cost of sales .. $81,741 . .5,247 7,355 Fiscal 2014 $92,793 $ 5,437 $98,367 5,743 6,809 Number of new patents .. 7,534 Required a. Compare IBM's research and development expense to other publicly traded companies and those in b. IBM's spending on research and development declined during 2015. Quantify this trend. Is this of c. What other data might analysts and investors collect to form an opinion about the level and effective- the same industry. Comment on the comparison. (Hint: Refer to Exhibit 5.3.) potential concern to investors? ness of IBM's R&D endeavors? LO1