Key comparative figures for Apple and Google follow. $ millions Net sales Cost of sales Apple Google Current Current Year Prior Year Year Prior Year $ 260, 174 $ 265,595 $ 161,857 $ 136,819 161,782 163, 756 71,896 59,549 Required 1. Compute the amount of gross margin and the gross margin ratio for the two years shown for each of these companies. 2. Which company earns more in gross margin for each dollar of net sales for the current year? 3-a. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Apple? 3-b. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Google? 4-a. Is the change in the company's current-year gross margin favorable or unfavorable for Apple? 4-5. Is the change in the company's current-year gross margin favorable or unfavorable for Google? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the amount of gross margin and the gross margin ratio for the two years shown for each of these companies. (Enter your dollar answers in millions. Round your percentage answers to 1 decimal place.) ($ millions) Net sales Cost of sales Gross margin Gross margin ratio Apple Current Year Prior Year $ 260,174 $ 265,595 161,782 163,756 Google Current Year Prior Year $ 161,857 $ 136,819 71,896 59,549 % % % % Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Which company earns more in gross margin for each dollar of net sales for the current year? Which company earns more in gross margin for each dollar of net sales for the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 3-a. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Apple? 3-b. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Google? Show less A 3-a. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Apple? 3-b. Does the company's current-year gross margin underperform or outperform the 35% industry average in the case of Google? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 4-a. Is the change in the company's current-year gross margin favorable or unfavorable for Apple? 4-b. Is the change in the company's current-year gross margin favorable or unfavorable for Google? 4-a. Is the change in the company's current-year gross margin favorable or unfavorable for Apple? 4-6. Is the change in the company's current-year gross margin favorable or unfavorable for Google
