QUESTION 1

The annual consolidated statement of operations for Apple Inc. is shown below:

REQUIRED:

Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reected in thousands and per share amounts) Net sales: 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 Earnings per share: Basic Diluted Years ended September 26. September 29, September 30, 2019 2018 2017 $ 213,883 $ 225,847 $ 196,534 46,291 39,748 32,700 260,174 265,595 229,234 144,996 148,164 126,337 16,786 15,592 14,711 161,782 163,756 141,048 98,392 101,639 88,186 16,217 14,236 11,581 18,245 16,705 15,261 34,462 30,941 26,842 63,930 70,898 61,344 1,807 2,005 2,745 65,737 72,903 64,089 10,481 13,372 15,738 $ 55,256 $ 59,531 $ 48,351 $ 11.97 $ 12.01 $ 9.27 $ 11.89 $ 11.91 $ 9.21