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2020 2019 (dollars in millions) $ 37,580 2,231 1,318 $33,075 1,283 Net sales Earnings before taxes Net earnings 891 Complete a horizontal and vertical analysis from the above information. (Enter your answers in millions. Round the "percent" answers to the nearest hundredth percent.) Horizontal analysis Vertical analysis 2020 2019 Increase Percent 2020 2019 % Net sales Earnings before taxes Net earnings

2020 2019 (dollars in millions) $ 37,580 2,231 1,318 $33,075 1,283 Net sales Earnings before taxes Net earnings 891 Complete a horizontal and vertical analysis from the above information. (Enter your answers in millions. Round the "percent" answers to the nearest hundredth percent.) Horizontal analysis Vertical analysis 2020 2019 Increase Percent 2020 2019 % Net sales Earnings before taxes Net earnings

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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### Financial Highlights Analysis #### Partial List of Financial Highlights from a Best Buy Annual Report **Data (dollars in millions):** - **Net Sales:** - 2020: $37,580 - 2019: $33,075 - **Earnings Before Taxes:** - 2020: $2,231 - 2019: $1,283 - **Net Earnings:** - 2020: $1,318 - 2019: $891 #### Analysis Table to Complete **Horizontal Analysis** | | 2020 | 2019 | Increase | Percent | |----------------|--------|--------|----------|----------| | Net Sales | | | | | | Earnings Before Taxes | | | | | | Net Earnings | | | | | **Vertical Analysis** | | 2020 (%) | 2019 (%) | |----------------|----------|----------| | Net Sales | | | | Earnings Before Taxes | | | | Net Earnings | | | **Instructions:** - For horizontal analysis, calculate the increase and percentage change from 2019 to 2020 for each category. - For vertical analysis, determine the percentage of each item relative to net sales for both years. Complete the analysis using the provided financial data and enter all calculated figures in millions. Round the percent answers to the nearest hundredth percent.
Transcribed Image Text:### Financial Highlights Analysis #### Partial List of Financial Highlights from a Best Buy Annual Report **Data (dollars in millions):** - **Net Sales:** - 2020: $37,580 - 2019: $33,075 - **Earnings Before Taxes:** - 2020: $2,231 - 2019: $1,283 - **Net Earnings:** - 2020: $1,318 - 2019: $891 #### Analysis Table to Complete **Horizontal Analysis** | | 2020 | 2019 | Increase | Percent | |----------------|--------|--------|----------|----------| | Net Sales | | | | | | Earnings Before Taxes | | | | | | Net Earnings | | | | | **Vertical Analysis** | | 2020 (%) | 2019 (%) | |----------------|----------|----------| | Net Sales | | | | Earnings Before Taxes | | | | Net Earnings | | | **Instructions:** - For horizontal analysis, calculate the increase and percentage change from 2019 to 2020 for each category. - For vertical analysis, determine the percentage of each item relative to net sales for both years. Complete the analysis using the provided financial data and enter all calculated figures in millions. Round the percent answers to the nearest hundredth percent.
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