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Variline Corp. reported the following on its comparative income statement: Variline Corp. reported the following on its comparative income statement EEB (Click the icon to

Variline Corp. reported the following on its comparative income statement:

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Variline Corp. reported the following on its comparative income statement EEB (Click the icon to view the data.) Prepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2019 and 2018 Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2019 and 2018. (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.) Variline Corp. Income Statement-(Partial) Years Ended December 31, 2019 and 2018 Increase (Decrease) 2019 2018 2018 2017 Am ount Percentage Amount Percentage Amounts in millions) Revenues Cost of Goods Sold Gross Profit $ 9,500 $ 9,250 $ 8,900 6.100 6.000 5,800 $ 3,400 $ 3,250 $ 3,100 1 Data Table (In millions) Revenue Cost of Goods Sold 2019 2018 2017 $ 9,500 $ 9,250 $8,900 6,1006,000 5,800

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