Answered: Prepare a statement showing the trend…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

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).

Expert Solution

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions