The financial statements of Apple, Inc. are presented below. CONSOLIDATED STATEM

Question

The financial statements of Apple, Inc. are presented below.

CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except number of shares which are reflected in thousands and per share amounts) 2010 Three vears ended September 24.2011 Net sales Cost of sales 2011 2009 S 65,225 S 42,905 $108,249 64,431 43,818 39,541 25 683 Gross margin Operating expenses 2,429 7,599 10,028 33,790 415 34,205 8,283 25,922 1,782 5517 7,299 18,385 155 18,540 4,527 1.333 4,149 5,482 11,740 326 12,066 3.831 Research and development Selling, general and administrative lotal operating expenses Operating income Oth Income before provision for income taxes Provision for income taxes Net income er income and expense ings per common share S 28.05 S 27.68 S 15.41 S 15.15 S 9.22 S 9.08 Basic Diluted Shares used in computing earnings per share 924,258 936,645 909,461 924,712 893,016 907,005 Basic Diluted

Explanation / Answer

Total Cost = $11,768

Book value = $7,777

Depreciation and amortization expense: from cash flow statement

2011 = $1,814

2010 = $1,027

2009 = $734

Amount of capital spending

2011 = $7,696 (244+4,260+3,192)

2010 = $2,759 (638+2,005+116)

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