McCormick Corporation reported the following on its comparative income statement: (in millions) 2017 2016 2015 Revenue $ 13,413 $ 13,150 12,500 Cost of sales $ 3,060 $ 3,000 2,500 Perform a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2017 and 2016. (Round your answers to two decimal places. Use a minus sign or parentheses to represent a decrease in amount or percentage.) McCormick Corporation Comparative Income Statement For The Years Ended December 31, 2017 and 2016 Increase/(Decrease) (amounts in millions) 2017 2016 2017 2016 2015 Change Percentage Change Revenue $ 13,413 $ 13,150 $12,500 650 5.2 % 913 Percentage 7.30 % 3,060 3,000 2,500 Cost of Sales Gross Profit $ 10,353 $ 10,150 $10,000 -150 -1.5 % 353 3.53 %
McCormick Corporation reported the following on its comparative income statement: (in millions) 2017 2016 2015 Revenue $ 13,413 $ 13,150 12,500 Cost of sales $ 3,060 $ 3,000 2,500 Perform a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2017 and 2016. (Round your answers to two decimal places. Use a minus sign or parentheses to represent a decrease in amount or percentage.) McCormick Corporation Comparative Income Statement For The Years Ended December 31, 2017 and 2016 Increase/(Decrease) (amounts in millions) 2017 2016 2017 2016 2015 Change Percentage Change Revenue $ 13,413 $ 13,150 $12,500 650 5.2 % 913 Percentage 7.30 % 3,060 3,000 2,500 Cost of Sales Gross Profit $ 10,353 $ 10,150 $10,000 -150 -1.5 % 353 3.53 %
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 99.3C
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