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1. Based on Starbucks Income statement, please highlight a few things that stood out to you on these statements, such as year-to-year changes in profits/losses, inventory changes, etc. As you mention them, please also indicate what that means for the performance of the company.

Below is the income statement.

Period Ending: 10/3/2021 9/27/2020 9/29/2019 9/30/2018 Total Revenue $29,060,600 $23,518,000 $26,508,600 $24,719,500 Cost of Revenue $8,738,700 $7,694,900 $8,526,900 $7,930,700 Gross Profit $20,321,900 $15,823,100 $17,981,700 $16,788,800 Operating Expenses Research and Development Sales, General and Admin. $14,223,000 $12,873,900 $12,688,700 $11,735,300 Non-Recurring Items $170,400 $278,700 $135,800 $224,400 Other Operating Items $1,441,700 $1,431,300 $1,377,300 $1,247,000 Operating Income $4,872,100 $1,561,700 $4,077,900 $3,883,300 Add'l income/expense items $954,600 $39,700 $719,300 $2,067,000 Earnings Before Interest and Tax $5,826,700 $1,601,400 $4,797,200 $5,950,300 Interest Expense $469,800 $437,000 $331,000 $170,300 Earnings Before Tax $5,356,900 $1,164,400 $4,466,200 $5,780,000 Income Tax $1,156,600 $239,700 $871,600 $1,262,000 Minority Interest $385,300 $322,500 $298,000 $301,200 Equity Earnings/Loss Unconsolidated Subsidiary -$1,000 $3,600 $4,600 $300 Net Income-Cont. Operations $4,584,600 $1,250,800 $3,897,200 $4,819,500 Net Income $4,199,300 $928,300 $3,599,200 $4,518,300 Net Income Applicable to Common Shareholders $4,199,300 $928,300 $3,599,200 $4,518,300

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