Question

1. Jason has been hired to evaluate the consolidated statement of operations of Apple Corporation.
2. Do the following:
   1. Prepare vertically integrated consolidated statements of operations for the three years presented.
   2. Compute the earnings per share for the three years presented.
   3. How is Apple performing? You must support your answer.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Sep. 29, 2018	Sep. 30, 2017	Sep. 24, 2016
Income Statement [Abstract]
Net sales	$ 265,595	$ 229,234	$ 215,639
Cost of sales	163,756	141,048	131,376
Gross margin	101,839	88,186	84,263
Operating expenses:
Research and development	14,236	11,581	10,045
Selling, general and administrative	16,705	15,261	14,194
Total operating expenses	30,941	26,842	24,239
Operating income	70,898	61,344	60,024
Other income/(expense), net	2,005	2,745	1,348
Income before provision for income taxes	72,903	64,089	61,372
Provision for income taxes	13,372	15,738	15,685
Net income	$ 59,531	$ 48,351	$ 45,687
Common stock outstanding	4,955,377	5,217,242	5,470,820

Answer 1

Earnings Per Share : Net Income/ Average Shares Outstanding

29,Sep 2018- $59431/4955377- $0.012

30 Sep 2017- $48531/5217242- $0.009

24 Sep 2016- $45687 / 5470820 - $ 0.008

Company is performing well as EPS is increasing year on year