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? 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?

Gross profit in 2011 = $43,818

Gross profit in 2010 = $25,684

The gross profit as a percentage of sales NOT changed significantly during the past year.

Operating income in 2011 = $33,790

Operating income in 2010 = $18,385

The operating income as a percentage of sales has NOT changed significantly during the past year.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf file for the complete question.

The explanation of the answers is now provided as follows:

a-1. Calculate the amount of Apple’s gross profit for each year.

Gross profit = Net sales - Cost of sales

Therefore, we have:

Gross profit in 2011 = $108,249 - $64,431 = $43,818

Gross profit in 2010 = $65,225 - $39,541 = $25,684

a-2. Has gross profit as a percentage of sales changed significantly during the past year?

Gross profit as a percentage of sales = (Gross profit / Net sales) * 100

Therefore, we have:

Gross profit as a percentage of sales in 2011 = ($43,818 / $108,249) * 100 = 40.48%

Gross profit as a percentage of sales in 2010 = ($25,684 / $65,225) * 100 = 39.38%

Change in gross profit as a percentage of sales = Gross profit as a percentage of sales in 2011 - Gross profit as a percentage of sales in 2010 = 40.48% - 39.38% = 1.10%

Since the change in gross profit as a percentage of sales is 1.10%, it shows that gross profit as a percentage of sales NOT changed significantly during the past year. This is a because a change of 10% or higher is considered significant by some scholars.

b-1. Calculate the amount of Apple’s operating income for each year.

Operating income = Gross profit – Research and development expenses – Selling, general and administrative expenses

Therefore, we have:

Operating income in 2011 = $43,818 - $2,429 - $7,599 = $33,790

Operating income in 2010 = $25,684 - $1,782 - $5,517 = $18,385

b-2. Has operating income as a percentage of sales changed significantly during the past year?

Operating income as a percentage of sales = (operating income / Net sales) * 100

Therefore, we have:

Operating income as a percentage of sales in 2011 = ($33,790 / $108,249) * 100 = 31.22%

Operating income as a percentage of sales in 2010 = ($18,385 / $65,225) * 100 = 28.19%

Change in operating income as a percentage of sales = Operating income as a percentage of sales in 2011 - Operating income as a percentage of sales in 2010 = 31.22% - 28.19% = 3.03%

Since the change in operating income as a percentage of sales is just 3.03%, it shows that operating income as a percentage of sales has NOT changed significantly during the past year. This is a because a change of 10% or higher is considered significant by some scholars.

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