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Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitboth in dollar amounts and in percentagesfor
Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitboth in dollar amounts and in percentagesfor 2019 and 2018. (Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Hooser Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 Increase (Decrease) 2019 2018 2019 2018 (Amounts in millions) 2017 Amount Percentage Amount Percentage Revenues 9.680 $ 9,500 $ 9,130 5,800 5,600 5,500 Cost of Goods Sold Gross Profit $ 3,880 $ 3,900 $ 3,630 % %
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