Question
MarinerMariner Corp. reported the following on its comparative income statement: (In millions) 2017 2016 2015 Revenue $9,950 $9,775 $9,250 Cost of Goods Sold 6,250 6,000
MarinerMariner Corp. reported the following on its comparative income statement: (In millions) 2017 2016 2015 Revenue $9,950 $9,775 $9,250 Cost of Goods Sold 6,250 6,000 5,890 Prepare a horizontal analysis of revenues and gross profitlong dashboth in dollar amounts and in percentageslong dashfor 20172017 and 20162016. Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dashboth in dollar amounts and in percentageslong dashfor 20172017 and 20162016. (Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Mariner, Corp. Income Statement - (Partial) Years Ended December 31, 2017 and 2016 (Amounts in millions) 2017 2016 2015 Revenues $9,950 $9,775 $9,250 Cost of Goods Sold 6,250 6,000 5,890 Gross Profit $3,700 $3,775 $3,360 Increase (Decrease) 2017 2016 Amount Percentage Amount Percentage % % % %
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