S18-1 Horizontal analysis McCormick Ltd reported the following on its comparative income statement: (In millions) 2016 2015 2014 Revenue $9 575 $9 300 $8 975 Cost of sales 6 000 5 975 5 900 Requirement Prepare a horizontal analysis of revenues and gross profit–both in dollar amounts and in percentages-for 2016 and 2015.

S18-1 Horizontal analysis McCormick Ltd reported the following on its comparative income statement: (In millions) 2016 2015 2014 Revenue $9 575 $9 300 $8 975 Cost of sales 6 000 5 975 5 900 Requirement Prepare a horizontal analysis of revenues and gross profit–both in dollar amounts and in percentages-for 2016 and 2015.

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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