Analysts at Wells Fargo recently released a PictureBook report on Apple Inc. AAPL 0.12% which presents visual representation of key data on Apple’s operations. Here are 11 important images contained in the report.

In Q1, Apple’s warranty accruals decreased by $1.1 billion quarter-over-quarter while the cost of claims remained mostly flat.

Analysts estimate that this decrease in accruals resulted in a 1.9 percent increase in Apple’s Gross margins.

Another major boost to gross margins came from Apple’s recent drop-off in accrued marketing and selling expenses. Wells Fargo estimates the decline in expenses in Q1 increased gross margins by 1.0 percent.

In the past, analysts have seen a correlation between third-party manufacturing/component commitments and forward revenue for Apple, but the latest numbers don’t clearly suggest revenue upside in Q2.

Apple raised $8 billion in debt in May to help fund…

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