consolidated statement of operations for Apple.

1.identfy the company's effective tax rate for 2014.

2. find out the company's net income in 2014. explain how it has changed from 2013.

Millions, except Share data in Thousands, unless otherwise specified D E $156,508 87,846 68,662 C 2 Thousands, unless otherwise specified $182,795 $170,910 3 Net sales 112,258 106,606 4 Cost of sales 70,537 64,304 5 Gross margin 6 Operating expenses: 6,041 4,475 7 Research and development 11,993 10,830 8 Selling, general and administrative 18,034 15,305 9 Total operating expenses 52,503 48,999 10 Operating income 11 Other income/(expense), net 980 1,156 53,483 50,155 12 Income before provision for income taxes 13,973 13,118 13 Provision for income taxes 14 Net income $39,510 $37,037 15 Earnings per share: 16 Basic $6.49 $5.72 17 Diluted $6.45 $5.68 Shares used in computing earnings per 18 share: 19 Basic 6,085,572 6,477,320 20 Diluted 6,122,663 6,521,634 Cash dividends declared per common share $1.82 $1.64 21 22 ... CONSOLIDATED STATEMENTS OF OPE Sheet1 3,381 10,040 13,421 55,241 522 55,763 14,030 $41,733 $6.38 $6.31 6,543,726 6,617,483 $0.38 CONSOLIDATED Millions, except Share data in Thousands, unless otherwise specified BCD In Millions, except Share data in 2 Thousands, unless otherwise specified Sep. 27, 2014 Sep. 28, 2013 Sep. 29, 2012 3 Net sales $182,795 $170,910 $156,508 4 Cost of sales 112,258 106,606 - 87,846 5 Gross margin 70,537 64,304 68,662 6 Operating expenses: 7 Research and development 6,041 4,475 3,381 8 Selling, general and administrative 11,993 10,830 10,040 9 Total operating expenses 18,034 15,305 13,421 10 Operating income 52,503 48,999 55,241 11 Other income/(expense), net 980 1,156 522 12 Income before provision for income taxes 53,483 50,155 55,763 13 Provision for income taxes 13,973 13,118 14,030 14 Net income $39,510 $37,037 $41,733 15 Earnings per share: 16 Basic $6.49 $5.72 $6.38 17 Diluted $6.45 $5.68 $6.31 Shares used in computing earnings per 18 share: 19 Basic 6,085,572 6,477,320 6,543,726 20 Diluted 6,122,663 6,521,634 6,617,483 Cash dividends declared per common share 21 $1.82 $1.64 $0.38 CONSOLIDATED STATEMENTS OF OPE Sheet1 CONSOLIDATED SI