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Where is the cost of goods located on this income statement? Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are
Where is the cost of goods located on this income statement?
Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) September 26, Years ended September 28, 2019 2020 September 29, 2018 $ Net sales: Products Services Total net sales 220,747 $ 53,768 274,515 213,883 $ 46,291 260,174 225,847 39,748 265,595 Cost of sales: Products Services Total cost of sales Gross margin 151,286 18.273 169,559 104.956 144,996 16,786 161,782 98.392 148,164 15,592 163,756 101.839 Operating expenses. Research and development Selling, general and administrative Total operating expenses. 18.752 19,916 16,217 18.245 34.462 14,236 16,705 30,941 38,668 Operating income Other income/expense), net Income before provision for income taxes Provision for income taxes Net income 66.288 803 67,091 9.680 57 411 63,930 1.807 65.737 10,481 55,256 70,898 2,005 72,903 13,372 59,531 $ $ $ Earnings per share: Basic Diluted $ $ 3.31 $ 3.28 $ 2.99 $ 2.97 $ 3.00 2.98 Shares used in computing earnings per share: Basic Diluted 17 352,119 17,528.214 18,471,336 18.595,651 19.821,510 20.000,435 See accompanying Notes to Consolidated Financial Statements. Apple Inc. 2020 Form 10-K 31Step by Step Solution
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