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Horizontal Analysis of Income Statement The following data (in millions) were taken from the financial statements...

Horizontal Analysis of Income Statement The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: Recent Year Prior Year Revenue $365,150 $335,000 Operating expenses 346,422 321,000 Operating income $18,728 $14,000 a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: Revenue Operating expenses Operating income Amount of Change (in millions) Percent of Change (round to 1 decimal place) Increase or Decrease 1. Revenue $ % 2. Operating expenses $ % 3. Operating income $ % b. During the recent year, . c. The operating results of Target Corporation for the recent year are provided below. Amount of Change Percent of Change Increase or Decrease 1. Revenue $3,920 8.7 % Increase 2. Operating expenses $2,568 7.6 % Increase 3. Operating income $1,608 13.9 % Increase How should the operating results of Target and Costco for the recent year be evaluated? . Check My Work

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