Gross Margin and Profit Margin Ratios. Refer to the condensed income statement for Apple, Inc., in Brief Exercise 14.
Compute the following profitability ratios for 2011, and provide a brief explanation after each ratio (round computations to one decimal place):
1. Gross margin ratio
2. Profit margin ratio
Brief Exercise 14:
Trend Analysis. The following condensed income statement is for Apple, Inc.
Prepare a trend analysis of the income statements from 2010 to 2011. Use the format shown in as a guide. (Round percent computations to one decimal place .)