Question
Corporation reported the following on its comparative income statement: (in millions) 2017 2016 2015 Revenue $12,852 $12,240 12,000 Cost of sales $5,100 $4,640 4,000 Perform
Corporation reported the following on its comparative income statement:
| (in millions) | 2017 | 2016 | 2015 |
|---|---|---|---|
| Revenue | $12,852 | $12,240 | 12,000 |
| Cost of sales | $5,100 | $4,640 | 4,000 |
Perform a horizontal analysis of revenues and gross
profitboth
in dollar amounts and in
percentagesfor
2017
and
2016.
(Round your answers to two decimal places. Use a minus sign or parentheses to represent a decrease in amount or percentage.)
| McCormick Corporation | ||||||||||
| Comparative Income Statement | ||||||||||
| For The Years Ended December 31, 2017 and 2016 | ||||||||||
|
|
| Increase/(Decrease) | ||||||||
|
| (amounts in millions) | 2017 | 2016 | |||||||
|
| 2017 | 2016 | 2015 | Change | Percentage | Change | Percentage | |||
| Revenue | $12,852 | $12,240 | $12,000 |
|
| % |
|
| % | |
| Cost of Sales | 5,100 | 4,640 | 4,000 |
|
|
|
| |||
| Gross Profit |
|
|
|
|
| % |
|
| % | |
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th edition
978-0134128528
