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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 Apple's 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, es. 15.2\%) CONSOUDATED STATEMENTS OF CASH FLOWS Specimen Financial Statements: Apple Inc. Once each year, a corporation communicates io its stockholders and other interested parties by issuing a complete set of audited financial stalements. The annual report, as this communication is called, summarizes the financial results of the compan/s operations for the year and its plens for the future. Many annual reports are attractive, multicolored. glessy public relations pieces, containing pictures of corporate oflicers and directors as well as photos and descriptions of new products and new buildings. Yet the basic functian of every annual report is to report financial information, aimost all of which is a product of the corporafior's accounting systerm. The content and orpanization of corpocate annual reports bave become fainy standarciced. Excluding the putlic relations part of the report (pictures, products, efo.), the following are the traditional financial portions of the annual report: * Financial Highlights - Letter to the Stockholders - Manogement's Discussion and Aratysis * Financial Statements - Notes to the Financial Statements - Maragement's Responsibility for Financial Reporting - Managements Report on Internal Control over Financial Reporting - Report of independent Registered Public Accounting Firm - Selected Financial Data The offlial SEC ning of the annual report is called a Form 10-K. which often omits the public relations pieces found in most standard annual reports. On the following pages, we present Apple inc,'s financial statements taken from the company's 2015 Fom 10-K. The complete Form 10-K. induding notes to the fnancial stafements, is available at the compan's website. CONSOLIDATED STATEMENTS OF OPEAATIONS in millions, excopt number of thares which are roflectod in thounandis and por share amounts

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