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Imrock Corp. reported the following on its comparative income statement: In millions 2019 2018 2017 Revenue $9,575 $9,300 $8,975 Cost of Goods Sold 6000 5,975

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Imrock Corp. reported the following on its comparative income statement: In millions 2019 2018 2017 Revenue $9,575 $9,300 $8,975 Cost of Goods Sold 6000 5,975 5,900 Prepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2016 and 2015. Increase (Decrease) 2019 2018 (Amounts in millions) Amount Percent Amount Percent Revenue $9,575 $9,300 $8,975 Ans 1 Ans 2 Ans 3 Ans 4 6000 5,975 5,900 Costs of Goods Sold $3575 $3,325 $3,075 Gross Profit Ans 5 Ans 6 Ans 7 Ans 8 8.10% 3.00% 7.50% 3.60% $250 (2019) $275 $325 $250 (2018)

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