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Using the following information from an annual report, prepare a Comparative (horizontal) analysis of the consolidated...

Using the following information from an annual report, prepare a Comparative (horizontal) analysis of the consolidated statements of earnings. (Round percentage answers to one decimal place.) 3 pts (In millions except per share data) June 30, 2010 June 30, 2009 Net sales $12,862 $11,170 Cost of sales 8,321 8,191 Gross margin $ 4,541 $ 2,979 Operating expenses: Selling expenses General and Administrative expenses $2,043 978 $2,000 955 Total operating expenses $ 3,021 $ 2,955 Income (loss) from operations $ 1,520 $ 24 Other Income and (expenses) 100 93 Earnings (loss) before income taxes $ 1,620 $ 117 Income taxes 561 26 Net earnings (loss) $ 1,059 $ 91 Basic earnings (loss) per share $ 10.98 $ 2.28

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