Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prove the fiscal 2021 Basic Earnings per Share of $5.67. Remember that the dollar amounts in the consolidated statement of operations are in millions of
- Prove the fiscal 2021 Basic Earnings per Share of $5.67. Remember that the dollar amounts in the consolidated statement of operations are in millions of dollars, while the number of shares listed at the bottom of this statement is in thousands.
Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) Years ended September 25, September 26, September 28, 2021 2020 2019 $ Net sales: Products Services Total net sales 297,392 $ 68,425 365,817 220,747 $ 53,768 274,515 213,883 46,291 260,174 Cost of sales: Products Services Total cost of sales Gross margin 192,266 20,715 212,981 152,836 151,286 18,273 169,559 104,956 144,996 16,786 161,782 98,392 Operating expenses: Research and development Selling, general and administrative Total operating expenses 21,914 21,973 43,887 18,752 19,916 38,668 16,217 18,245 34,462 108,949 258 Operating income Other income/(expense), net Income before provision for income taxes Provision for income taxes Net income 109,207 14,527 94,680 $ 66,288 803 67,091 9,680 57,411 $ 63,930 1,807 65,737 10,481 55,256 $ Earnings per share: Basic Diluted 5.67 $ 5.61 $ 3.31 $ 3.28 $ 2.99 2.97 Shares used in computing earnings per share: Basic Diluted 16,701,272 16,864,919 17,352,119 17,528,214 18,471,336 18,595,651 See accompanying Notes to Consolidated Financial Statements
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started