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Horizontal Analysis of Income Statement. The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: Revenue Operating expenses Operating income

Horizontal Analysis of Income Statement. The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: Revenue Operating expenses Operating income Recent Year Prior Year $141,576 $129,025 137,096 $4,480 124,914 $4,111 a. For Costco, determine the amount of change in millions and the percent of change from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income (For those boxes in which you must enter negative numbers use a minus sign. Round percentage answers to one decimal place.) 1. Revenue. 2. Operating expenses 3. Operating income b. During the recent year, i Amount of Change Percent of Change Increase or Decrease (in millions) (round to 1 decimal place) % % % c. The operating results of Target Corporation for the recent year are provided below. Amount of Change Percent of Change Increase or Decrease (in millions) 1. Revenue. $2,642 3.6 % Increase 2. Operating expenses $2,756 4.0 % Increase 3. Operating income $(114) (2.7)% Decrease How should the operating results of Target and Costco for the recent year be evaluated

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