Ikea Income Statement	2016	2015	2014
Revenue	35,074	32,658	29,293
Cost of Goods Sold	18,918	18,221	16,372
Gross Profit	16,156	14,437	12,921
Operating Income	4,499	4,049	3,743
Total Financial income and expense	869	299	352
Income before minority interest and taxes	5,368	4,348	4,145
Tax	1,158	822	801
Income before minority interest	4,210	3,526	3,344
Minority interest	10	14	15
Net Income	4,200	3,512	3,329

VII. Financial Report: For this part of the assessment, you will prepare a financial report in response to a hypothetical scenario: A major global disaster (in this case an oil spill) has caused environmental damage and has affected global transportation as well. As the controller of your chosen company, you are tasked with providing a financial report to the board of directors addressing how this event will affect your company.

A. Analyze the effects of the global disaster on the financial statements of ikea using the financial information from your company.

B. Recommend strategies to address the effects of the disaster on ikea based on your analysis.

Focus on how the disaster will affect your company, specifically related to increases in costs of operations and possible rising prices from vendors for shipping and products. How will this affect your companys bottom line? Could there be an impact to cost of goods sold? What about increases in shipping? Will you need to raise prices? Could this cause inventory shortages? How will this affect sales and your customer base? When considering strategies, what can be done to offset these impacts? How could you avoid the impact of rising transportation costs in products and shipping, along with possible delays in merchandise shipments due to this disaster?