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Need help on how to work this problem, please. Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in
Need help on how to work this problem, please.
Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Calculate both the sales change rate and the percentage of sales in the blue boxes then apply to projected column Net sales: \begin{tabular}{|c|} \hline Sales Change Rate \\ \hline \\ \hline \end{tabular} Years ended Products Services Total net sales Cost of sales: Products Services Total cost of sales Gross margin Operating expenses: Research and development Selling, general and administrative Total operating expenses Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income \begin{tabular}{|l|} \hline Percentage of Sales \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} 192,26620,715212,981152,836 151,28618,273169,559104,956 144,99616,786161,78298,392 Calculate tax rate based on prior year and then apply to your projected income before taxStep by Step Solution
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