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I need to create a Vertical Analysis for the following w/ explanation. Apple Inc. CONSOLIDATED INCOME STATEMENT (In millions, except number of shares which are
I need to create a Vertical Analysis for the following w/ explanation.
Apple Inc. CONSOLIDATED INCOME STATEMENT (In millions, except number of shares which are reflected in thousands and par value) September 26, 2020 September 28, 2019 % % Net Sales: Products Services Total net sales 220747 53768 274515 213883 46291 260174 Cost of sales: Products Services Total cost of sales Gross Margin 151286 18273 169559 104956 144996 16786 161782 98392 18752 Operating expenses: Research & development Selling, general & administrative Total operating expenses 16217 18245 19916 38668 34462 63930 1807 Operating income Other income(expense) Income before provision for income taxes Provision for income taxes Net income 66288 803 67091 9680 57411 65737 10481 55256Step by Step Solution
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