Horizontal Analysis of Income Statement The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: Recent Year Prior Year Revenue $791,312 $722,000 Operating expenses 749,045 693,000 Operating income $42,267 $29,000 a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income Amount of Change Percent of Change Increase or Decrease in millions) (round to 1 decimal place) 1. Revenue $ % 2. Operating expenses $ % 3. Operating income $ % b. During the recent year, c. The operating results of Target Corporation for the recent year are provided below. Amount of Change Percent of Change Increase or Decrease 1. Revenue $9,011 9.3 % Increase 2. Operating expenses $5,743 7.9 % Increase Check My Work Previous Next vperating expenses 749,073 vyuo Operating income $42,267 $29,000 a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income Amount of Change (in millions) Increase or Decrease Percent of Change (round to 1 decimal place) % 1. Revenue $ 2. Operating expenses $ % 3. Operating income $ % b. During the recent year, c. The operating results of Target Corporation for the recent year are provided below. Amount of Change Percent of Change Increase or Decrease 1. Revenue $9,011 9.3 % Increase 2. Operating expenses $5,743 7.9 % Increase 3. Operating income $3,276 14.5 % Increase How should the operating results of Target and Costco for the recent year be evaluated? Check My Work Previous Next