(In millions) 2019 2018 2017 Revenue $9,575 $9,300 $8,975 cost of goods sold $6,250 $6,000 $5,890 McDonald Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 (Amounts in millions) 2019 2018 2017 Revenues $9,575 $9,300 $8,975 Cost of Goods Sold 6,250 6,000 5,890 Gross Profit $3,325 $3,300 $3,085 Increase (Decrease) 2019 2018 Amount Percentage Amount Percentage % % % % Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dash—both in dollar amounts and in percentageslong dash—for 20192019 and 20182018. (Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.)
(In millions) 2019 2018 2017 Revenue $9,575 $9,300 $8,975 cost of goods sold $6,250 $6,000 $5,890 McDonald Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 (Amounts in millions) 2019 2018 2017 Revenues $9,575 $9,300 $8,975 Cost of Goods Sold 6,250 6,000 5,890 Gross Profit $3,325 $3,300 $3,085 Increase (Decrease) 2019 2018 Amount Percentage Amount Percentage % % % % Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross profitlong dash—both in dollar amounts and in percentageslong dash—for 20192019 and 20182018. (Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
| (In millions) | 2019 | 2018 | 2017 |
| Revenue | $9,575 | $9,300 | $8,975 |
| cost of goods sold | $6,250 | $6,000 | $5,890 |
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McDonald Corp.
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Income Statement - (Partial)
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Years Ended December 31, 2019 and 2018
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(Amounts in millions)
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2019
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2018
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2017
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Revenues
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$9,575
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$9,300
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$8,975
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Cost of Goods Sold
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6,250
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6,000
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5,890
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Gross Profit
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$3,325
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$3,300
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$3,085
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Increase (Decrease)
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2019
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2018
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Amount
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Percentage
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Amount
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Percentage
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%
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%
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%
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%
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Begin by calculating the gross profit for each year, then prepare a horizontal analysis of revenues and gross
profitlong dash—both
in dollar amounts and in
percentageslong dash—for
20192019
and
20182018.
(Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.)Expert Solution
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