Answered: (In millions) 2019 2018 2017 $ 9,135…

Business

Accounting

(In millions) 2019 2018 2017 $ 9,135 Revenue Cost of Goods Sold $ 9,890 6,250 $ 9,690 6,000 5,890

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

Performing horizontal analysis

Verifine Corp reported the following on its comparative income statementPrepare a horizontal analysis of revenues and gross profit-both in dollar amounts and in percentages-for 2019 and 2018.

(In millions)
2019
2018
2017
$ 9,135
Revenue
Cost of Goods Sold
$ 9,890
6,250
$ 9,690
6,000
5,890

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