Question

Begin by calculating the gross profit for each​ year, then prepare a horizontal analysis of revenues and gross profit long dash both in dollar amounts and in percentages long dash for 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.) Verifone 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 6,250 6,000 5,890

Gross Profit ?

Begin by calculating the gross profit for each​ year, then prepare a horizontal analysis of revenues and gross

profit long dash—both

in dollar amounts and in

percentages long dash—for

20192019

and

20182018.

​(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.)

Verifine 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	6,250	6,000	5,890
Gross Profit

Answer 1

Answer-

VERIFINE CORP.
HORIZONTAL ANALYSIS
INCOME STATEMENT PARTIAL
FOR THE YEAR ENDED DECEMBER 2019 & 2018
PARTICULARS	2019	%	2018	%	2017	%
	$		$		$
Sales	9890	108.3	9690	106.1	9135	100.0
Less-Cost of good sold	6250	106.1	6000	101.9	5890	100.0
Gross profit	3640	112.2	3690	113.7	3245	100.0