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S18-1 Horizontal analysis McCormick Ltd reported the following on its comparative income statement: 2014 2016 2015 (In millions) $8 975 5 900 $9 300 $9

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S18-1 Horizontal analysis McCormick Ltd reported the following on its comparative income statement: 2014 2016 2015 (In millions) $8 975 5 900 $9 300 $9 575 6 000 Revenue Cost of sales 5 975 Requirement Prepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2016 and 2015

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