Question
Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dashboth in dollar amounts and in
Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dashboth in dollar amounts and in percentageslong dashfor 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.) Variline Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 (Amounts in millions) 2019 2018 2017 Revenues $9,890 $9,690 $9,135 Cost of Goods Sold 5,810 5,675 5,600 Gross Profit $4,080 $4,015 $3,535 Increase (Decrease) 2019 2018 Amount Percentage Amount Percentage % $555 % % $480 %
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