Graph: Create a graph of the Sales/Revenue, Gross Income, and Net Income by year.

• Discuss whether these items provide an explanation for Mr. Johnson?s dismissal.

Vertical Analysis: Create a table with the same information as the separate statements with five columns: one for each year. The entries should be percentages based on Gross Income as a base.

• Which items appear to have changed most over time?
• How have earnings per Share changed?
• Discuss why you might see these results.

Trend Analysis: Create a trend analysis by year of all lines in the reports.

• Which lines have the strongest upward (or downward) trend?

Graph: Create a graph of the Sales/Revenue, Gross Income, and Net Income by year.

• Discuss whether these items provide an explanation for Mr. Johnson?s dismissal.

Vertical Analysis: Create a table with the same information as the separate statements with five columns: one for each year. The entries should be percentages based on Gross Income as a base.

• Which items appear to have changed most over time?
• How have earnings per Share changed?
• Discuss why you might see these results.

Trend Analysis: Create a trend analysis by year of all lines in the reports.

• Which lines have the strongest upward (or downward) trend?
• Do these items seem to be related to Sales/Revenue? You need to support this discussion: you may compare these values with the graph you created earlier.
• Do these items seem to be related to Sales/Revenue? You need to support this discussion: you may compare these values with the graph you created earlier.

JC Penney Income Statement Annual Financials for J.C. Penney Co. Inc. View Ratios Fiscal year is February-January. All values USD millions. Sales/Revenue Cost of Goods Sold (COGS) incl. D&A COGS excluding D&A Depreciation & Amortization Expense Depreciation Gross Income SG&A Expense [Selling, General and Administrative] Other Operating Expense Unusual Expense EBIT after Unusual Expense Non Operating Income/Expense Non-Operating Interest Income Equity in Affiliates (Pretax) Interest Expense Gross Interest Expense Interest Capitalized Pretax Income Income Tax Income Tax - Current Domestic Income Tax - Current Foreign Income Tax - Deferred Domestic Income Tax - Deferred Foreign Consolidated Net Income Net Income Extraordinaries & Discontinued Operations Discontinued Operations Net Income After Extraordinaries Net Income Available to Common EPS (Basic) [Earnings per Share] Basic Shares Outstanding EPS (Diluted) Diluted Shares Outstanding EBITDA [Earnings Before Interest, Taxes, Depreciation, and Amortization] 2009 18,490 12,040 11,570 469 6,450 2009 5,400 55 0 0 139 43 0 268 268 0 910 343 25 153 25 140 567 567 5 5 572 567 3 222 3 223 1,470 2010 17,560 11,480 10,980 495 6,080 2010 5,380 28 41 (41) 36 3 0 263 267 4 403 154 83 0 71 0 249 249 2 2 251 249 1 232 1 233 1,160 2011 17,760 11,570 11,050 511 511 6,190 2011 5,350 19 35 (35) 42 2 0 253 253 0 581 203 88 0 115 0 378 378 11 11 389 378 2 236 2 238 1,340 2012 17,260 11,680 11,160 518 5,580 2012 5,110 7 509 (509) 37 1 0 221 221 0 (229) (77) 76 0 (153) 0 (152) (152) 0 0 (152) (152) (1) 217 (1) 217 981 2013 12,990 9,820 9,270 543 3,170 2013 4,510 4 384 (384) 403 5 11 231 231 0 (2) (551) 79 (95) (70) (465) (985) (985) 0 0 (985) (985) (4) 219 (4) 219 (797)