The following data (in millions) were taken from the financial statements of Costco Whole- sale Corporation: Recent Year Prior Year $116,199 $112,640 Revenue Operating expenses Operating income 112,575 3,624 109,420 $3,220 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 Comment on the results of your horizontal analysis in part (a) b.

The following data (in millions) were taken from the financial statements of Costco Whole- sale Corporation: Recent Year Prior Year $116,199 $112,640 Revenue Operating expenses Operating income 112,575 3,624 109,420 $3,220 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 Comment on the results of your horizontal analysis in part (a) b.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 24E: The following data (in millions) were taken from the financial statements of Costco Wholesale...

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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.
Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.
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Refer to RE5-1. Prepare a single-step income statement for Brandt Corporation for the current year.
Revenue and expense data for Gresham Inc. for two recent years are as follows: a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to one decimal place. b. Comment on the significant changes disclosed by the comparative income statement.
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