15.

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

16. A corporation issued $100,000 of 10% bonds for $103,000. What is the journal entry to record the issuance of the bonds.