Apple Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amount)
	September 29, 2012	September 28, 2013
Net sales	$ 156,508	$ 170,910
Cost of sales	87,846	106,606
Gross margin	68,662	64,304
Operating expenses:
Research and development	3,381	4,475
Selling, general and
administrative	10,040	10,830
Total operating expenses	13,421	15,305
Operating income	55,241	48,999
Other income/(expense), net	522	1,156
Income before provision for
income taxes	55,763	50,155
Provision for income taxes	14,030	13,118
Net income	$ 41,733	$ 37,037

Requirements:
1. Calculate the $ change and % change from 2012 to 2013 (15 Points)
2. Calculate the common size % for each year using total revenues as your base amount (15 Points)
3. In what year, was the company able to retain a higher % of gross profit? Why do you think that was the case? (10 Points)
4. In what year, was the company able to retain a higher % of net income? Why do you think that was the case? (10 Points)
Source: Apple's 10K
http://files.shareholder.com/downloads/AAPL/3548470834x0xS1193125-13-416534/320193/filing.pdf