Accounting: Tools for Business Decision Making, 5th Edition

by Kimmel, Paul D.; Weygandt, Jerry J.; Kieso, Donald E.

Published by Wiley

ISBN 10: 1118128168

ISBN 13: 978-1-11812-816-9

Chapter 1 - Introduction to Financial Statements - Broadening Your Perspective - Financial Reporting and Analysis - Page 40: BYP1-5

Answer

See explanation

Work Step by Step

(a) Microsoft's net income for the fiscal year 2021 was $\$61.3$ billion. (b) Microsoft's total sales for the fiscal year 2021 was $\$168.1$ billion. (c) Microsoft's industry is technology. (d) Four companies in the technology industry are Apple, Amazon, Alphabet (Google), and Facebook. (e) Let's choose Apple as a competitor. Apple's total sales for the fiscal year 2020 was $\$274.5$ billion, and its net income was $\$57.4$ billion.

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