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McKesson Corporation ’s annual report for the year ended March 31, 2009, includes incomestatements for three years: ending on March 31, 2007, 2008, and 2009. Net income for these threeyears is as follows (all in millions): $913 (2007), $990 (2008), and $823 (2009). Further analysisof the same income statements reveals that revenues were the following amounts for these sameyears (all in millions): $92,977 (2007), $101,703 (2008), and $106,632 (2009). State each year’s net income as a percentage of revenues and comment briefly on the trend you see over the three-year period.

McKesson Corporation ’s annual report for the year ended March 31, 2009, includes incomestatements for three years: ending on March 31, 2007, 2008, and 2009. Net income for these threeyears is as follows (all in millions): $913 (2007), $990 (2008), and $823 (2009). Further analysisof the same income statements reveals that revenues were the following amounts for these sameyears (all in millions): $92,977 (2007), $101,703 (2008), and $106,632 (2009). State each year’s net income as a percentage of revenues and comment briefly on the trend you see over the three-year period.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 37E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...
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McKesson Corporation ’s annual report for the year ended March 31, 2009, includes income
statements for three years: ending on March 31, 2007, 2008, and 2009. Net income for these three
years is as follows (all in millions): $913 (2007), $990 (2008), and $823 (2009). Further analysis
of the same income statements reveals that revenues were the following amounts for these same
years (all in millions): $92,977 (2007), $101,703 (2008), and $106,632 (2009). State each year’s

net income as a percentage of revenues and comment briefly on the trend you see over the three-
year period.

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