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Amount of Change Percent of Change (In millions) (round to 1 decimal place) Increase or Decrease 1. Revenue % Increase v 2. Operating expenses Increase v 3. Operating income Increase v

Amount of Change Percent of Change (In millions) (round to 1 decimal place) Increase or Decrease 1. Revenue % Increase v 2. Operating expenses Increase v 3. Operating income Increase v

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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Horizontal Analysis of Income Statement The following data (in millions) are taken from the financial statements of Tarrow Corporation: Recent Year Prlor Year Revenue $586,931 $547,000 Operating expenses 496,155 465,000 Operating income $90,776 $82,000 a. For Tarrow Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income Amount of Change Percent of Change (In millions) (round to 1 decimal place) Increase or Decrease 1. Revenue Increase V 2. Operating expenses Increase V 3.Operating income Increase V b. During the recent year, revenue IncreasedV and operating expenses increased v As a result, operating income increased v from the prior year.
Transcribed Image Text:Horizontal Analysis of Income Statement The following data (in millions) are taken from the financial statements of Tarrow Corporation: Recent Year Prlor Year Revenue $586,931 $547,000 Operating expenses 496,155 465,000 Operating income $90,776 $82,000 a. For Tarrow Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income Amount of Change Percent of Change (In millions) (round to 1 decimal place) Increase or Decrease 1. Revenue Increase V 2. Operating expenses Increase V 3.Operating income Increase V b. During the recent year, revenue IncreasedV and operating expenses increased v As a result, operating income increased v from the prior year.
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