Question
1 Horizontal analysis [510 min] McCormick, Corp., reported the following on its comparative income statement: (In millions) 2012 2011 2010 Revenue .............................. $9,575 $9,300 $8,975
1 Horizontal analysis [510 min]
McCormick, Corp., reported the following on its comparative income statement:
| (In millions) | 2012 | 2011 | 2010 |
| Revenue .............................. | $9,575 | $9,300 | $8,975 |
| Cost of sales........................ | 6,000 | 5,975 | 5,900 |
Requirement
1. Prepare a horizontal analysis of revenues and gross profitboth in dollar amounts and in percentagesfor 2012 and 2011.
Financial Statement Analysis 751
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