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Use the Percentage Sales method and a 20% increase in sales to forecast Apples' Consolidated Statement of Operations for the period September 26, 1999 through September 25, 2000. Assume a 15% tax rate and restructuring costs of 1% of the new sales figure.

Consolidated Statements of Operations For the period September 26, 1998 through September 25, 1999

Sales $6,134
Cost of Sales 4,438
Gross Margin 1,696
Operating expenses:
R & D 314
Selling, General, and Administrative 996
In-process R & D ---------
Restructuring costs ---------
Total Operating Exp $1,310
Operating income $ 386
Total interest and other Income net 317
Income before provision for Income taxes 703
Provision for income Taxes (15%) 105.4
Net income $ 597.6

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Percentage Sales method and a 20% increase in sales is used to forecast Apples' Consolidated Statement of Operations.

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