WHY THE FORECAST INCOME HSVE DEACLINE IN THE 2022 AND 2023 OF APPLE COMPANY Income Statement2023202220212020Net sales:Products$464,675$371,740$297,392 $220,747Services105210.288484768,42553,768Total net sales$359,465$286,893365,817274,515Cost of sales:Products$533,595$320,300192,266151,286Services$23,993$22,29420,71518,273Total cost of sales$646,407$371,042212,981169,559Gross margin($286,943)($84,149)152,836104,956Operating ExpensesResearch and development25,52823,65221,91418,752Selling, general and administrative25,72723,77621,97319,916Total operating expenses51,25547,42843,88738,668Operating income(338,198)(131,578)108,94966,288Other income/(expense), net$259$259258803Income before provision for income taxes $194,798$145,854109,20767,091Provision for income taxes$15,904.85 $15,200.3214,5279,680Net income35,350.2032,227.80$94,680$57,411

Companies and analysts often forecast their financial statements. Here the income statement of Apple…

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WHY THE FORECAST INCOME HSVE DEACLINE IN THE 2022 AND 2023 OF APPLE COMPANY

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

WHY THE FORECAST INCOME HSVE DEACLINE IN THE 2022 AND 2023 OF APPLE COMPANY

Income Statement
2023
2022
2021
2020
Net sales:
Products
$464,675
$371,740
$297,392 $220,747
Services
105210.28
84847
68,425
53,768
Total net sales
$359,465
$286,893
365,817
274,515
Cost of sales:
Products
$533,595
$320,300
192,266
151,286
Services
$23,993
$22,294
20,715
18,273
Total cost of sales
$646,407
$371,042
212,981
169,559
Gross margin
($286,943)
($84,149)
152,836
104,956
Operating Expenses
Research and development
25,528
23,652
21,914
18,752
Selling, general and administrative
25,727
23,776
21,973
19,916
Total operating expenses
51,255
47,428
43,887
38,668
Operating income
(338,198)
(131,578)
108,949
66,288
Other income/(expense), net
$259
$259
258
803
Income before provision for income taxes $194,798
$145,854
109,207
67,091
Provision for income taxes
$15,904.85 $15,200.32
14,527
9,680
Net income
35,350.20
32,227.80
$94,680
$57,411

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