Prepare a vertical analysis for 2019 similar to 3rd column of Exhibit 14-2 on page 577 KOHL’S CORPORATION CONSOLIDATED STATEMENTS OF INCOME (Dollars in Millions, Except per Share Data) 2019 Common Size Net sales $18,885 Other revenue 1,089 Total revenue 19,974 Cost of merchandise sold 12,140 Operating expenses: Selling, general and administrative 5,705 Depreciation and amortization 917 Impairments, store closing and other costs 113 Operating income 1,099 Interest expense, net 207 (Gain) loss on extinguishment of debt (9) Income before income taxes 901 Provision for income taxes 210 Net income $691 Use horizontal analysis to compute the percentage increase from fiscal year 2018 to 2019 similar to columns 6 and 7 of Ex.14-2 KOHL’S CORPORATION CONSOLIDATED STATEMENTS OF INCOME (Dollars in Millions, Except per Share Data) 2019 2018 $ Change % Change Net sales $18,885 $19,167 Other revenue 1,089 1,062 Total revenue 19,974 20,229 Cost of merchandise sold 12,140 12,199 Operating expenses: Selling, general and administrative 5,705 5,601 Depreciation and amortization 917 964 Impairments, store closing and other costs 113 104 Operating income 1,099 1,361 Interest expense, net 207 256 (Gain) loss on extinguishment of debt (9) 63 Income before income taxes 901 1,042 Provision for income taxes 210 241 Net income $691 801

Prepare a vertical analysis for 2019 similar to 3rd column of Exhibit 14-2 on page 577 KOHL’S CORPORATION CONSOLIDATED STATEMENTS OF INCOME (Dollars in Millions, Except per Share Data) 2019 Common Size Net sales $18,885 Other revenue 1,089 Total revenue 19,974 Cost of merchandise sold 12,140 Operating expenses: Selling, general and administrative 5,705 Depreciation and amortization 917 Impairments, store closing and other costs 113 Operating income 1,099 Interest expense, net 207 (Gain) loss on extinguishment of debt (9) Income before income taxes 901 Provision for income taxes 210 Net income $691 Use horizontal analysis to compute the percentage increase from fiscal year 2018 to 2019 similar to columns 6 and 7 of Ex.14-2 KOHL’S CORPORATION CONSOLIDATED STATEMENTS OF INCOME (Dollars in Millions, Except per Share Data) 2019 2018 $ Change % Change Net sales $18,885 $19,167 Other revenue 1,089 1,062 Total revenue 19,974 20,229 Cost of merchandise sold 12,140 12,199 Operating expenses: Selling, general and administrative 5,705 5,601 Depreciation and amortization 917 964 Impairments, store closing and other costs 113 104 Operating income 1,099 1,361 Interest expense, net 207 256 (Gain) loss on extinguishment of debt (9) 63 Income before income taxes 901 1,042 Provision for income taxes 210 241 Net income $691 801

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Prepare a vertical analysis for 2019 similar to 3^rd column of Exhibit 14-2 on page 577

KOHL’S CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in Millions, Except per Share Data)	2019	Common Size
Net sales	$18,885
Other revenue	1,089
Total revenue	19,974
Cost of merchandise sold	12,140
Operating expenses:
Selling, general and administrative	5,705
Depreciation and amortization	917
Impairments, store closing and other costs	113
Operating income	1,099
Interest expense, net	207
(Gain) loss on extinguishment of debt	(9)
Income before income taxes	901
Provision for income taxes	210
Net income	$691

Use horizontal analysis to compute the percentage increase from fiscal year 2018 to 2019 similar to columns 6 and 7 of Ex.14-2

KOHL’S CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in Millions, Except per Share Data)

2019

2018

$ Change

% Change

Net sales

$18,885

$19,167

Other revenue

1,089

1,062

Total revenue

19,974

20,229

Cost of merchandise sold

12,140

12,199

Operating expenses:

Selling, general and administrative

5,705

5,601

Depreciation and amortization

917

964

Impairments, store closing and other costs

113

104

Operating income

1,099

1,361

Interest expense, net

207

256

(Gain) loss on extinguishment of debt

(9)

Income before income taxes

901

1,042

Provision for income taxes

210

241

Net income

$691

801

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