Consider Apple’s Consolidated Statement of Operations for the year
ended September 25, 1999 as shown below and answer the following
question:
Use the Percentage Sales Method and a 20% increase in sales to forecast
Apples' Consolidated Statement of Operations for the period September
26, 1999 through September 25, 2000. Assume a 15% tax rate.
Consolidated Statements of Operations For the period September 26, 1998
through September 25, 1999
Sales $6,134
Cost of Sales 4,438
Gross Margin 1,696
Operating expenses:
R & D 314
Selling, General, and Administrative 996
In-process R & D ---------
Restructuring costs ---------
Total Operating Exp $1,310
Operating income $ 386
Total interest and other Income net 317
Income before provision for Income taxes 703
Provision for income Taxes (15%) 105.4
Net income $ 597.6
Business Homework Solutions
#16718
Percentage Sales Method to Forecast Consolidated Statement of Operations
Consider Apple's Consolidated Statement of Operations for the year ended September 25, 1999 as shown in the attachment and answer the following problem:
Use the Percentage Sales Method and a 20% increase in sales to forecast Apples' Consolidated Statement of Operations for the period September 26, 1999 through September 25, 2000. Assume a 15% tax rate.
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