The following information (in millions) was taken from a recent income statement of The J.M. Smucker Company :

Required
Conduct horizontal and vertical analyses of gross profit. Was the company more or less profitable in the current year? Do both horizontal and vertical analyses indicate that? For your calculations, round percentages to one decimal point (i.e., 10.1%).

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Net sales Cost of sales Gross profit Current Year $4,605 2,818 $1,787 Prior Year $3,758 2,506 $1,252