Save Mivatin Products Ltd. reported the following on its 2011 comparative income statement: (In millions) 2011 2010 2009 Net sales $148.5 $139.0 $149.5 Cost of sales 129.5 108.0 114.0 Perform a horizontal analysis of net sales, cost of sales, and gross margin, both in dollar amounts and in percentages, for 2011 and 2010. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Mivatin Products Ltd. Income Statement - (Adapted) For the Year Ended December 31, 2011 and 2010 Increase/(Decrease) (amounts in millions) 2011 2010 2011 2010 2009 Amt. % Amt % Net sales $148.5 $139.0 $149.5 Cost of sales 129.5 108.0 114.0 Gross margin
Save Mivatin Products Ltd. reported the following on its 2011 comparative income statement: (In millions) 2011 2010 2009 Net sales $148.5 $139.0 $149.5 Cost of sales 129.5 108.0 114.0 Perform a horizontal analysis of net sales, cost of sales, and gross margin, both in dollar amounts and in percentages, for 2011 and 2010. (Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.) Mivatin Products Ltd. Income Statement - (Adapted) For the Year Ended December 31, 2011 and 2010 Increase/(Decrease) (amounts in millions) 2011 2010 2011 2010 2009 Amt. % Amt % Net sales $148.5 $139.0 $149.5 Cost of sales 129.5 108.0 114.0 Gross margin
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 87PSB
Related questions
Question
Save
Mivatin
Products Ltd. reported the following on its 2011 comparative income statement:
(In millions)
|
2011
|
2010
|
2009
|
Net sales
|
$148.5
|
$139.0
|
$149.5
|
Cost of sales
|
129.5
|
108.0
|
114.0
|
Perform a horizontal analysis of net sales, cost of sales, and gross margin, both in dollar amounts and in percentages, for 2011 and 2010.
(Round the percentages to one decimal place, X.X%. Use a minus sign or parentheses to indicate a decrease.)
Mivatin Products Ltd.
|
|||||||||
Income Statement - (Adapted)
|
|||||||||
For the Year Ended December 31, 2011 and 2010
|
|||||||||
|
|
|
|
|
|
Increase/(Decrease)
|
|||
|
|
(amounts in millions)
|
|
|
|
2011
|
2010
|
||
|
|
|
2011
|
2010
|
2009
|
Amt.
|
%
|
Amt
|
%
|
|
|
Net sales
|
$148.5
|
$139.0
|
$149.5
|
|
|
|
|
|
|
Cost of sales
|
129.5
|
108.0
|
114.0
|
|
|
|
|
|
|
Gross margin
|
|
|
|
|
|
|
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning