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Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
Edition 11ISBN: 978-1259535314 Exercise 6
Understanding income statement relationships- Apple Inc. Selected data from the September 27, 2014, and September 28, 2013, consolidated balance sheets and income statements for the years then ended for Apple Inc. follow. All amounts are reported in millions.
Required:
a. Calculate the amount of Apple's gross profit for each year. Has gross profit as a percentage of sales changed significantly during the past year?
b. Calculate the amount of Apple's operating income for each year. Has operating income as a percentage of sales changed significantly during the past year?
c. After completing parts a and b , calculate the other missing amounts for each year.
Required:
a. Calculate the amount of Apple's gross profit for each year. Has gross profit as a percentage of sales changed significantly during the past year?
b. Calculate the amount of Apple's operating income for each year. Has operating income as a percentage of sales changed significantly during the past year?
c. After completing parts a and b , calculate the other missing amounts for each year.
Explanation
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(a) Calculate A's gross profit for each ...
Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall
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