Apple and Google report the following Income statement data (some are assumed). Use the companies' service revenue and cost data to answer the requirements. $ millions Service revenue Cost of services Apple Current Year Prior Year $ 46,291 $ 39,748 16,786 15,592 Google Current Year Prior Year $ 134,811 $ 116,461 59,856 50,661 Required: 1. Compute the gross profit ratio for each of the two years shown for each company. 2. Is the change in Apple's current year gross profit ratio on its services favorable or unfavorable? 3. Is the change in Google's current year gross profit ratio on its services favorable or unfavorable? 4. Does Google's current year gross profit ratio underperform or outperform the Industry (assumed) average of 60%? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the gross profit ratio for each of the two years shown for each company. (Round your answer to 1 decimal place.) Current Year Prior Year Apple gross profit ratio Google gross profit ratio Apple and Google report the following income statement data (some are assumed). Use the companies' service revenue and cost data to answer the requirements. $ millions Service revenue Cost of services Apple Current Year Prior Year $ 46,291 $ 39,748 16,786 15,592 Google Current Year Prior Year $ 134,811 $ 116,461 59,856 50,661 Required: 1. Compute the gross profit ratio for each of the two years shown for each company. 2. Is the change in Apple's current year gross profit ratio on its services favorable or unfavorable? 3. Is the change in Google's current year gross profit ratio on its services favorable or unfavorable? 4. Does Google's current year gross profit ratio underperform or outperform the Industry (assumed) average of 60%? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Is the change in Apple's current year gross profit ratio on its services favorable or unfavorable? The change in Apple's current year gross profit ratio is Apple and Google report the following Income statement data (some are assumed). Use the companies' service revenue and cost data to answer the requirements. $ millions Service revenue Cost of services Apple Current Year Prior Year $ 46,291 $ 39,748 16,786 15,592 Google Current Year Prior Year $ 134,811 $ 116,461 59,856 50,661 Required: 1. Compute the gross profit ratio for each of the two years shown for each company. 2. Is the change in Apple's current year gross profit ratio on its services favorable or unfavorable? 3. Is the change in Google's current year gross profit ratio on its services favorable or unfavorable? 4. Does Google's current year gross profit ratio underperform or outperform the Industry (assumed) average of 60%? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Is the change in Google's current year gross profit ratio on its services favorable or unfavorable? The change in Google's current year gross profit ratio is Apple and Google report the following Income statement data (some are assumed). Use the companies' service revenue and cost data to answer the requirements. $ millions Service revenue Cost of services Apple Current Year Prior Year $ 46,291 $ 39,748 16,786 15,592 Google Current Year Prior Year $ 134,811 $ 116,461 59,856 50,661 Required: 1. Compute the gross profit ratio for each of the two years shown for each company. 2. Is the change in Apple's current year gross profit ratio on its services favorable or unfavorable? 3. Is the change in Google's current year gross profit ratio on its services favorable or unfavorable? 4. Does Google's current year gross profit ratio underperform or outperform the Industry (assumed) average of 60%? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Does Google's current year gross profit ratio underperform or outperform the industry (assumed) average of 60%? Google's current year gross profit ratio (55.6%) the industry (assumed) average of 60%.
