The photo given below is the horizontal analysis of Apple Inc income statement for two quotas. Discuss the analysis

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ISBN:9780357391693
Author:Owen
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Chapter10: Financial Statements And Reports
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Problem 3.3C
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The photo given below is the horizontal analysis of Apple Inc income statement for two quotas. Discuss the analysis

IP
IQ
IR
IS
IT
IU
IV
1
APPLE INC
2
Income statement horizontal analysis
3
2 quarters
4
1st quarter
December 25, 2021
2nd quarter
December 26,2020 %Inc or % Dec June 26,2021 june 27, 2020 %Inc or % Dec
5
6
7 Net
8
sales
9 Products
104429
95678
9.15%
63948
46529
37.44%
10 Services
19516
15761
23.82%
17486
13156
32.91%
11
Total net sales
123945
111439
11.22%
81434
59685
36.44%
12
13 Cost of sales
14 Products
64309
62130
3.51%
40899
32693
25.10%
15 Services
5393
4981
8.27%
5280
4312
22.45%
16 Total cost of sales
69702
67111
3.86%
46179
37005
24.79%
17 Gross margin
54243
44328
22.37%
35255
22680
55.45%
18
19 Operating expenses
20 Research and development
6306
5163
22.14%
5717
4758
20.16%
21 Selling, general and adminstrative
22 Total operating expenses
6449
5631
14.53%
5412
4831
12.03%
12755
10794
18.17%
11129
9589
16.06%
23
24 operating income
25 other income (expense), net
41488
33534
23.72%
24126
13091
84.29%
243
24369
-247
45
-648.89%
46
428.26%
26 income before provision for income taxes
41241
33579
22.82%
13137
85.50%
27 provision for income taxes
6611
4824
37.04%
2625
1884
39.33%
28 net income
34630
28755
20.43%
21744
11253
93.23%
29
30 earnings per share
31 Basic
2.11
1.7
24.12%
1.31
0.65
101.54%
32 Diluted
2.1
1.68
25.00%
1.3
0.65
100.00%
coN
Transcribed Image Text:IP IQ IR IS IT IU IV 1 APPLE INC 2 Income statement horizontal analysis 3 2 quarters 4 1st quarter December 25, 2021 2nd quarter December 26,2020 %Inc or % Dec June 26,2021 june 27, 2020 %Inc or % Dec 5 6 7 Net 8 sales 9 Products 104429 95678 9.15% 63948 46529 37.44% 10 Services 19516 15761 23.82% 17486 13156 32.91% 11 Total net sales 123945 111439 11.22% 81434 59685 36.44% 12 13 Cost of sales 14 Products 64309 62130 3.51% 40899 32693 25.10% 15 Services 5393 4981 8.27% 5280 4312 22.45% 16 Total cost of sales 69702 67111 3.86% 46179 37005 24.79% 17 Gross margin 54243 44328 22.37% 35255 22680 55.45% 18 19 Operating expenses 20 Research and development 6306 5163 22.14% 5717 4758 20.16% 21 Selling, general and adminstrative 22 Total operating expenses 6449 5631 14.53% 5412 4831 12.03% 12755 10794 18.17% 11129 9589 16.06% 23 24 operating income 25 other income (expense), net 41488 33534 23.72% 24126 13091 84.29% 243 24369 -247 45 -648.89% 46 428.26% 26 income before provision for income taxes 41241 33579 22.82% 13137 85.50% 27 provision for income taxes 6611 4824 37.04% 2625 1884 39.33% 28 net income 34630 28755 20.43% 21744 11253 93.23% 29 30 earnings per share 31 Basic 2.11 1.7 24.12% 1.31 0.65 101.54% 32 Diluted 2.1 1.68 25.00% 1.3 0.65 100.00% coN
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