The following data were adapted from the financial statements of Kmart Corporation, prior to its filing for bankruptcy:

a. Prepare a horizontal analysis for the income statement showing the amount and percent of change in each of the following:1. Sales2. Cost of sales3. Selling, general, and administrative expenses4. Operating income (loss)b. Comment on the results of your horizontal analysis in part(a).

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In millions For years ending January 31 2000 1999 $ 35,925 (28,111) (6,514) $ 37,028 Sales Cost of sales (expense) (29,658) Selling, general, and administrative Operating income (loss) expenses $ 1,300 (45)