Horizontal Analysis of Income Statement The following data (in millions) are taken from the financial statements of Target Corporation: Recent Year Prior Year Revenue $72,618 $71,279 Operating expenses 68,083 66,109 Operating income $ 4,535 $ 5,170 a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income (For those boxes in which you must enter negative numbers use a minus sign.) Amount of Change Percent of Change (in millions) (round to 1 decimal place) Increase or Decrease 1. Revenue 2. Operating expenses 3. Operating income b. During the recent year, revenue and operating expenses As a result, operating income from the prior year.

Horizontal Analysis of Income Statement The following data (in millions) are taken from the financial statements of Target Corporation: Recent Year Prior Year Revenue $72,618 $71,279 Operating expenses 68,083 66,109 Operating income $ 4,535 $ 5,170 a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income (For those boxes in which you must enter negative numbers use a minus sign.) Amount of Change Percent of Change (in millions) (round to 1 decimal place) Increase or Decrease 1. Revenue 2. Operating expenses 3. Operating income b. During the recent year, revenue and operating expenses As a result, operating income from the prior year.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 23E: The following data (in millions) are taken from the financial statements of Target Corporation: a....

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The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. Comment on the results of your horizontal analysis in part (a). c. Based upon Exercise 2-23, compare and comment on the operating results of Target and Costco for the recent year.
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