Horizontal Analysis of Income Statements Consolidated income statements for Cooper Manufacturing follow. Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts) Three fiscal years ended December 31 2023 2022 2021 Sales $10,088,322 $7,976,954 $7,086,542 Costs and expenses: Cost of goods sold $6,844,915 $5,107,113 $4,003,989 Research and development 592,001 664,564 602,135 Selling, general, and administrative 1,384,111 1,550,857 1,642,770 Restructuring costs and other (126,855) 320,856 50,000 $8,694,172 $7,643,390 $6,298,894 Operating income $1,394,150 $333,564 $787,648 Interest and other income, net (21,988) 29,321 49,634 Income before income taxes $1,372,162 $362,885 $837,282 Provision for income taxes 381,525 50,104 285,430 Net income $990,637 $312,781 $551,852 Earnings per common and common equivalent share $3.43 $1.18 $2.06 Common and common equivalent shares used in the calculations of earnings per share 288,740 264,985 268,110 Required: Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. Cooper ManufacturingConsolidated Income Statements 2023 2022 2021 Sales fill in the blank 1% fill in the blank 2% fill in the blank 3% Costs and expenses: Cost of goods sold fill in the blank 4% fill in the blank 5% fill in the blank 6% Research and development fill in the blank 7% fill in the blank 8% fill in the blank 9% Selling, general, and administrative fill in the blank 10% fill in the blank 11% fill in the blank 12% Restructuring costs and other fill in the blank 13% fill in the blank 14% fill in the blank 15% fill in the blank 16% fill in the blank 17% fill in the blank 18% Operating income fill in the blank 19% fill in the blank 20% fill in the blank 21% Interest and other income, net fill in the blank 22% fill in the blank 23% fill in the blank 24% Income before income taxes fill in the blank 25% fill in the blank 26% fill in the blank 27% Provision for income taxes fill in the blank 28% fill in the blank 29% fill in the blank 30% Net income fill in the blank 31% fill in the blank 32% fill in the blank 33% Earnings per common and common equivalent share fill in the blank 34% fill in the blank 35% fill in the blank 36%

Horizontal Analysis of Income Statements Consolidated income statements for Cooper Manufacturing follow. Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts) Three fiscal years ended December 31 2023 2022 2021 Sales $10,088,322 $7,976,954 $7,086,542 Costs and expenses: Cost of goods sold $6,844,915 $5,107,113 $4,003,989 Research and development 592,001 664,564 602,135 Selling, general, and administrative 1,384,111 1,550,857 1,642,770 Restructuring costs and other (126,855) 320,856 50,000 $8,694,172 $7,643,390 $6,298,894 Operating income $1,394,150 $333,564 $787,648 Interest and other income, net (21,988) 29,321 49,634 Income before income taxes $1,372,162 $362,885 $837,282 Provision for income taxes 381,525 50,104 285,430 Net income $990,637 $312,781 $551,852 Earnings per common and common equivalent share $3.43 $1.18 $2.06 Common and common equivalent shares used in the calculations of earnings per share 288,740 264,985 268,110 Required: Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. Cooper ManufacturingConsolidated Income Statements 2023 2022 2021 Sales fill in the blank 1% fill in the blank 2% fill in the blank 3% Costs and expenses: Cost of goods sold fill in the blank 4% fill in the blank 5% fill in the blank 6% Research and development fill in the blank 7% fill in the blank 8% fill in the blank 9% Selling, general, and administrative fill in the blank 10% fill in the blank 11% fill in the blank 12% Restructuring costs and other fill in the blank 13% fill in the blank 14% fill in the blank 15% fill in the blank 16% fill in the blank 17% fill in the blank 18% Operating income fill in the blank 19% fill in the blank 20% fill in the blank 21% Interest and other income, net fill in the blank 22% fill in the blank 23% fill in the blank 24% Income before income taxes fill in the blank 25% fill in the blank 26% fill in the blank 27% Provision for income taxes fill in the blank 28% fill in the blank 29% fill in the blank 30% Net income fill in the blank 31% fill in the blank 32% fill in the blank 33% Earnings per common and common equivalent share fill in the blank 34% fill in the blank 35% fill in the blank 36%

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 1MAD

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Question

Horizontal Analysis of Income Statements

Consolidated income statements for Cooper Manufacturing follow.

Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts)
	Three fiscal years ended December 31
	2023	2022	2021
Sales		$10,088,322		$7,976,954	$7,086,542
Costs and expenses:
Cost of goods sold		$6,844,915		$5,107,113	$4,003,989
Research and development		592,001		664,564	602,135
Selling, general, and administrative		1,384,111		1,550,857	1,642,770
Restructuring costs and other		(126,855)		320,856	50,000
		$8,694,172		$7,643,390	$6,298,894
Operating income		$1,394,150		$333,564	$787,648
Interest and other income, net		(21,988)		29,321	49,634
Income before income taxes		$1,372,162		$362,885	$837,282
Provision for income taxes		381,525		50,104	285,430
Net income		$990,637		$312,781	$551,852
Earnings per common and common equivalent share		$3.43		$1.18	$2.06
Common and common equivalent shares used in the calculations of earnings per share		288,740		264,985	268,110

Required:

Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above.

Cooper ManufacturingConsolidated Income Statements

	2023	2022	2021
Sales	fill in the blank 1%	fill in the blank 2%	fill in the blank 3%
Costs and expenses:
Cost of goods sold	fill in the blank 4%	fill in the blank 5%	fill in the blank 6%
Research and development	fill in the blank 7%	fill in the blank 8%	fill in the blank 9%
Selling, general, and administrative	fill in the blank 10%	fill in the blank 11%	fill in the blank 12%
Restructuring costs and other	fill in the blank 13%	fill in the blank 14%	fill in the blank 15%
	fill in the blank 16%	fill in the blank 17%	fill in the blank 18%
Operating income	fill in the blank 19%	fill in the blank 20%	fill in the blank 21%
Interest and other income, net	fill in the blank 22%	fill in the blank 23%	fill in the blank 24%
Income before income taxes	fill in the blank 25%	fill in the blank 26%	fill in the blank 27%
Provision for income taxes	fill in the blank 28%	fill in the blank 29%	fill in the blank 30%
Net income	fill in the blank 31%	fill in the blank 32%	fill in the blank 33%
Earnings per common and common equivalent share	fill in the blank 34%	fill in the blank 35%	fill in the blank 36%

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