Assume that you were valuing Apple in April 2011. The last 10K was as of September 2010. You also had info of two quarterly reports (10Qs), one ending in March 2010 and one ending in March 2011. • Use the two 10Qs to find Apple's trailing 12-month operating income as of March 2011: Filing Period Ending Operating Income 10-Q Six Months Ending Mar 2011 $4,815 10-K Annual Ending Sep 2010 $18,385 10-Q Six Month Ending Mar 2010 $3,332 Trailing 12m operating income