Prepare a statement showing the trend percentages for each item using 1997 as the base year. 2. Comment on the trends noted in part (1).
Prepare a statement showing the trend percentages for each item using 1997 as the base year. 2. Comment on the trends noted in part (1).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| Deere & Company manufactures, distributes, and finances a full range of agricultural equipment; a broad range of industrial equipment for construction, forestry, and public works; and a variety of lawn and grounds care equipment. The company also provides credit, health care, and insurance products for businesses and the general public. Consider the following information from the Deere & Company 2000 Annual Report: |
| (in millions) | 1997 | 1998 | 1999 | 2000 |
| Sales | 12,791 | 13,822 | 11,751 | 13,137 |
| Cost of goods sold | 8,481 | 9,234 | 8,178 | 8,936 |
| Gross margin | 4,310 | 4,588 | 3,573 | 4,201 |
1. Prepare a statement showing the trend percentages for each item using 1997 as the base year.
2. Comment on the trends noted in part (1).
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