Homework Answers
Income statement (Partial)
Year ended Dec 31, 2019 and 2018
| Increase (Decrease) | |||||||
| 2019 | 2018 | ||||||
| Amount in millions | 2019 | 2018 | 2017 | Amount | Percentage | Amount | Percentage |
| Revenues | 9,610 | 9,355 | 9,050 | 9,610 - 9,050 = 560 | 560/9,050 = 6.2% | 9,355 - 9,050 = 305 | 305/9,050 = 3.4% |
| Cost of goods sold | 6,120 | 5,900 | 5,675 | ||||
| Gross profit | 3,490 | 3,455 | 3,375 | 3,490 - 3,375 = 115 | 115/3,375 = 3.4% | 3,455 - 3,375 = 80 | 80/3,375 = 2.4% |
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