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Prepare a budgeted income statement for the next fiscal year if sales increased by 10%. Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number

Prepare a budgeted income statement for the next fiscal year if sales increased by 10%.

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Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) September 26, 2020 Net sales: Products Services Total net sales 220.747 53,768 274,515 Cost of sales: Products Services Total cost of sales Gross margin 151,286 18.273 169,559 104,956 Operating expenses: Research and development Selling general and administrative Total operating expenses 18,752 19,916 38.668 Operating income Other incomel (expense), net Income before provision for income taxes Provision for income taxes Net income 66.288 803 67,091 9.680 57,411 Earnings per share: Basic Diluted 3.31 3.28

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