Obtain Apple most recent annual report on Form 10-K. The Form 10-K is a company’s annually required filing with the Securities and Exchange Commission (SEC). It includes the company’s financial statements and accompanying notes. The Form 10-K can be obtained either (A) from the investor relations section of the company’s Web site or (B) by using the company search feature of the SEC’s EDGAR database service found at www.sec.gov/edgar/searchedgar/companysearch.html.

Based on the information in the company’s most recent annual report, determine each of the following for all the years presented:

Gross profit
Gross profit rate (Gross profit ÷ Sales)
Income from operations
Percentage change in income from operations
Net income
Percentage change in net income

Based solely on your responses to item 1, has the company’s performance improved, remained constant, or deteriorated over the periods presented? Briefly explain your answer.