Question
What are the main categories of the income statement line items in order to calculate net income (ie revenue, expense etc). (I do not want
What are the main categories of the income statement line items in order to calculate net income (ie revenue, expense etc). (I do not want you to copy the entire income statement - just the main items) (Please include account descriptions and amounts in a table presentation).
a. What is the amount of net income reported for each fiscal year? Which is changing more rapidly net sales or net income? (Please include account descriptions and amounts in a table presentation).
b. What are the three largest expenses for each of the fiscal years presented? (Please include account descriptions and amounts in a table presentation).
c. If the Company sells products, what is the gross margin and gross profit percentage for each fiscal year presented? (Please include account descriptions and amounts in a table presentation).
d. What is the amount of operating income for each fiscal year? What is the amount of operating income as a percentage of sales for each fiscal year? What is the trend? (Please include account descriptions and amounts in a table presentation).
PART II Item 8 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA INCOME STATEMENTS (In millions, except per share amounts) Year Ended June 30, 2020 2019 2018 Revenue: Product Service and other $ 68,041 $ 66,069 $ 64,497 74,974 59,774 45,863 Total revenue 143,015 125,843 110,360 Cost of revenue: Product Service and other 16,017 30,061 16,273 26,637 15,420 22,933 Total cost of revenue 46,078 42,910 38,353 Gross margin Research and development Sales and marketing General and administrative 96,937 19,269 19,598 5,111 82,933 16,876 18,213 4,885 72,007 14,726 17,469 4,754 Operating income Other income, net 52,959 77 42,959 729 35,058 1,416 Income before income taxes Provision for income taxes 53,036 8,755 43,688 4,448 36,474 19,903 Net income $ 44,281 $ 39,240 $ 16,571 Earnings per share: Basic Diluted $ $ 5.82 $ 5.76 $ 5.11 $ 5.06 $ 2.15 2.13 Weighted average shares outstanding: Basic Diluted 7,610 7,683 7,673 7,753 7,700 7,794 Refer to accompanying notesStep by Step Solution
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