Question

Begin by calculating the gross profit for each​ year, then prepare a horizontal analysis of revenues and gross profitlong dashboth in dollar amounts and in percentageslong dashfor 2019 and 2018. ​(Enter amounts in millions as provided to you in the problem statement. Round the percentages to one decimal​ place, X.X%. Use a minus sign or parentheses to indicate a​ decrease.) Variline Corp. Income Statement - (Partial) Years Ended December 31, 2019 and 2018 (Amounts in millions) 2019 2018 2017 Revenues $9,890 $9,690 $9,135 Cost of Goods Sold 5,810 5,675 5,600 Gross Profit $4,080 $4,015 $3,535 Increase (Decrease) 2019 2018 Amount Percentage Amount Percentage % $555 % % $480 %

Answer 1

Income Statement (Partial) Particulars 2019 2018 2017 2019 - Amount $ 200 Increase/Decrease) 2018 % Amount $ 2.1% 555 % 6.1% Revenues Less: Cost of goods sold Gross Profit 9,890 5,810 9,690 5,675 4,015 9,135 5,600 3,535 4,080 65 1.6% 480 13.6%