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Refer to apples financial statements and answer the following questions.

See accompanying Notes to Consoldated Financial Statements. CONSOLIDATED BALANCE SHEETS (In millions; except number of shares which art reflected in thousands and par value) The financial statements of Apple Inc. are presented in Appendix A at the end of this textbook. Instructions for accessing and using the company's complete annual report, including the notes to the financial statements, are also provided in Appendix A: Click here to view Appendix A. Refer to Appls financial statements and answer the following questions: (a) What was the percentage change in (1) net sales and in (2) net income from 2013 to 2014 and from 2014 to 2015 ? (Round answers to 1 decimal place, ess. 15.2% ) Yoars ended Cash and cash equivalents, beginning of the year Operating actwities: Net income \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Years ended } \\ \hline \multicolumn{2}{|c|}{Septomber26,2015} & \multicolumn{2}{|c|}{September27,2014} & \multicolumn{2}{|c|}{September28,2013} \\ \hline$ & 13,844 & $ & 14.259 & $ & 10,746 \\ \hline & 53,394 & & 39,510 & & 37,037 \\ \hline & 11,257 & & 7,946 & & 6,757 \\ \hline & 3,686 & & 2,863 & & 2,253 \\ \hline & 1,382 & & 2,347 & & 1,141 \\ \hline & 611 & & (4,232) & & (2,172) \\ \hline & (238) & & (76) & & (973) \\ \hline & (3,735) & & (2,220) & & 223 \\ \hline & (170) & & 167 & & 1,080 \\ \hline & 5,400 & & 5,938 & & 2,340 \\ \hline & 1,042 & & 1,460 & & 1,450 \\ \hline & 8,746 & & 6,010 & & 4,521 \\ \hline & 81.266 & & 59.713 & & 53,666 \\ \hline \end{tabular} Investing acthities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payments for acquisition of property, plant and equipment (166,402) (217,128) (148,489) 18,810 20,317 107.447 189,301 104,130 (3,765) (496) (11,247) (9,571) (8,165) See accompanying Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) Ses accomnanyhn Notes to Consolildated Financial Statements. See accompanying Notes to Consolidated Financlal Staternents. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (in milions, except number of shares which are reflocted in thousands) \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multirow[b]{3}{*}{ Net sales } & & \multicolumn{6}{|c|}{ Yoars ended } \\ \hline & & \multicolumn{2}{|c|}{September26,2015} & \multicolumn{2}{|c|}{September27,2014} & \multicolumn{2}{|c|}{September28,2013} \\ \hline & & $ & 233,715 & $ & 182,705 & $ & 170,910 \\ \hline Cost of sales & & & 140,089 & & 112.258 & & 106,606 \\ \hline Gross margin & & & 93,626 & & 70,537 & & 64,304 \\ \hline \multicolumn{8}{|l|}{ Operating expenses: } \\ \hline Research and dovelopment & & & 8,067 & & 6,041 & & 4,475 \\ \hline Seling. general and administratve & \multirow[b]{2}{*}{+} & & 14,329 & & 11,993 & & 10,830 \\ \hline Total operating expenses & & & 22,396 & & 18,034 & & 15,305 \\ \hline Operating income & & & 71,230 & & 52,503 & & 48,999 \\ \hline Other inoome/expense), not & & & 1,285 & & 890 & & 1,156 \\ \hline Income botore provision for income taxes & & & 72,515 & & 53,483 & & 50,155 \\ \hline Provision for incomo taxes & & & 19,121 & & 13,973 & & 13,118 \\ \hline Net income & & $ & 53,394 & $ & 39.510 & $ & 37,037 \\ \hline \multicolumn{8}{|l|}{ Earnings per share: } \\ \hline Basic & & $ & 0.28 & \$ & 6.40 & $ & 5.72 \\ \hline Divted & & $ & 9.22 & $ & 6.45 & $ & 5.68 \\ \hline \multicolumn{8}{|l|}{ Shares used in computing carnings per share: } \\ \hline Basic & & & 5,753,421 & & 6,085,572 & & 6,477,320 \\ \hline Diuted & & & 5,703,069 & & 6,122,663 & & 6,521,634 \\ \hline \end{tabular} Soe accompanyng Notes to Consolidated Financial Statements. CONSOLIDATED STATEMENTS OF CASH FLOWS (In milions) Goodwil Acquired intang ble assots, net Other assets Total assets LIABILTTES AND SHAREHOLDERS' EQUITY: Commitments and contingencios Shareholders' equity: Common stock and additional paid-in capital, $0,00001 par value: 12,600,000 shares authorized; 5,578,763 and 5,866,161 shares lissued and outstanding, respoctivoly Rotaned earnings Accumulated other comprahensive income Total shareholdors' equity \begin{tabular}{rr} 27,416 & 23,313 \\ 92,284 & 87,152 \\ (345) & 1,082 \\ \hline 119,355 & 111,547 \\ \hline \end{tabular}

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