BTN 13-1 Refer to Apple’s financial statements in Appendix A to answer the following.
1. Using fiscal 2013 as the base year, compute trend percents for fiscal years 2013, 2014, and 2015 for net sales, cost of sales, operating income, other income (expense) net, provision for income taxes, and net income. (Round percents to one decimal.)
2. Compute common-size percents for fiscal years 2014 and 2015 for the following categories of assets: (a) total current assets; (b) property, plant and equipment, net; and (c) goodwill plus acquired intangible assets, net. (Round percents to one decimal.)
3. Comment on any notable changes across the years for the income statement trends computed in part 1 and the balance sheet percents computed in part 2.
4. Access Apple’s financial statements for fiscal years ending after September 26, 2015, from its website (Apple.com) or the SEC database (SEC.gov). Update your work for parts 1, 2, and 3 using the new information accessed.
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