Question

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

Math   Advanced-Math   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Horizontal Analysis of Income Statement The following data (in millions) are taken from the financial statements...
Horizontal Analysis of Income Statement The following data (in millions) are taken from the financial statements of Tarrow Corporation. Recent Year Prior Year Revenue $863,654 $814,000 Operating expenses 739,056 692,000 Operating income $124,598 $122,000 a. For Tarrow Corporation, 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...
Income Statement, Retained Earnings Statement, and Balance Sheet The following financial data were adapted from a...
Income Statement, Retained Earnings Statement, and Balance Sheet The following financial data were adapted from a recent annual report of Target Corporation for the year ending January 31. In millions Accounts payable $13,714 Cash 1,588 Common stock 5,724 Cost of goods sold 95,720 Debt and other borrowings 34,966 Income tax expense 3,054 Interest expense 1,732 Inventories 15,836 Other assets 5,684 Other expenses 5,154 Other liabilities 12,938 Property, plant, and equipment 58,298 Sales 136,932 Selling, general, and administrative expenses 28,212 Instructions:...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows:     Current Year     Previous Year Sales $550,000 $440,000 Cost of goods sold 467,400 380,000 Gross profit $82,600 $60,000 Selling expenses $24,150 $21,000 Administrative expenses 20,910 17,000 Total operating expenses $45,060 $38,000 Income before income tax $37,540 $22,000 Income tax expenses 15,000 8,800 Net income $22,540 $13,200 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of the Income Statement Income statement data for Boone Company for the years ended...
Horizontal Analysis of the Income Statement Income statement data for Boone Company for the years ended December 31, 20Y5 and 20Y4, are as follows:     20Y5     20Y4 Sales $487,500 $390,000 Cost of goods sold (414,800) (340,000) Gross profit $72,700 $50,000 Selling expenses $(20,700) $(18,000) Administrative expenses (18,450) (15,000) Total operating expenses $(39,150) $(33,000) Income before income tax $33,550 $17,000 Income tax expenses (13,400) (6,800) Net income $20,150 $10,200 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
Horizontal Analysis of Income Statement For 20Y2, McDade Company reported a decline in net income. At...
Horizontal Analysis of Income Statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement: McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $495,121 $437,000 Cost of goods sold 358,400 280,000 Gross profit $136,721 $157,000 Selling expenses $49,950 $37,000 Administrative expenses 28,800 23,000 Total operating expenses $78,750 $60,000 Income from operations $57,971...
Variable Costing Income Statement The following data were adapted from a recent income statement of The...
Variable Costing Income Statement The following data were adapted from a recent income statement of The Bluth Company: (in millions) Sales $193,810 Operating costs: Cost of products sold $(93,030) Marketing, administrative, and other expenses (62,020) Total operating costs $(155,050) Operating income $38,760 Assume that the variable amount of each category of operating costs is as follows: (in millions) Cost of products sold $52,330 Marketing, administrative, and other expenses 25,200 a. Based on the data given, prepare a variable costing income...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows:     Current Year     Previous Year Sales $838,200 $660,000 Cost of goods sold 706,800 570,000 Gross profit $131,400 $90,000 Selling expenses $38,610 $33,000 Administrative expenses 35,000 28,000 Total operating expenses $73,610 $61,000 Income before income tax $57,790 $29,000 Income tax expenses 23,100 11,600 Net income $34,690 $17,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared...
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent...
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:        Current Year        Previous Year Sales $435,000 $396,000 Cost of goods sold 269,700 221,760 Selling expenses 65,250 71,280 Administrative expenses 73,950 59,400 Income tax expense 8,700 15,840 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. If required, round percentages to one decimal place. Enter all amounts as positive numbers. (For...
Prepare a horizontal analysis of the comparative income statement of Mariner Designs, Inc. Round percentage changes...
Prepare a horizontal analysis of the comparative income statement of Mariner Designs, Inc. Round percentage changes to one decimal place. 2018    2017    increase amount decrease percentage net sales revenue 429,750 373,450 cost of goods sold 200,250 186,250 selling and general expenses 98,000 92,000 other expenses 9,150 6,000 total expenses 307,400 284,250 net income 122,350 89,200 2. Why did 2018 net income increase by a higher percentage than net sales revenue? net income increased by a higher percentage than...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows:...
Income statement data for Winthrop Company for two recent years ended December 31, are as follows:     Current Year     Previous Year Sales $1,016,400 $770,000 Cost of goods sold 845,000 650,000 Gross profit $171,400 $120,000 Selling expenses $52,460 $43,000 Administrative expenses 46,800 36,000 Total operating expenses $99,260 $79,000 Income before income tax $72,140 $41,000 Income tax expenses 28,900 16,400 Net income $43,240 $24,600 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT