Horizontal Analysis of Income Statements

Consolidated income statements for Cooper Manufacturing follow.

Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts)
	Three fiscal years ended December 31
	2023			2022			2021
Sales		$10,088,322			$7,976,954			$7,211,542
Costs and expenses:
Cost of goods sold		$6,844,915			$5,107,113			$4,028,989
Research and development		592,001			664,564			612,135
Selling, general, and administrative		1,384,111			1,550,857			1,717,770
Restructuring costs and other		(126,855)			320,856			50,000
		$8,694,172			$7,643,390			$6,408,894
Operating income		$1,394,150			$333,564			$802,648
Interest and other income, net		(21,988)			29,321			44,634
Income before income taxes		$1,372,162			$362,885			$847,282
Provision for income taxes		381,525			50,104			275,430
Net income		$990,637			$312,781			$571,852
Earnings per common and common equivalent share		$3.43			$1.18			$1.92
Common and common equivalent shares used in the calculations of earnings per share		288,740			264,985			298,110

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below.

Cooper Manufacturing Consolidated Income Statements
	2023			2022			2021
Sales		139.89%			110.61%			100%
Costs and expenses:
Cost of goods sold		fill in			Fill in			100%
Research and development		fill in			Fill in			100%
Selling, general, and administrative		fill in			Fill in			100%
Restructuring costs and other		-253.71			641.71			100%
		Fill in			Fill in			100%
Operating income		Fill in			Fill in			100%
Interest and other income, net		-49.26%			65.69%			100%
Income before income taxes		Fill in			Fill in			100%
Provision for income taxes		138.52%			18.19%			100%
Net income		Fill in			Fill in			100%
Earnings per common and common equivalent share		Fill in			Fill in			100%