Analysis of the consolidated statements of earnings

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Using the following information from an annual report, prepare a Comparative (horizontal) analysis of the consolidated statements of earnings. (Round percentage answers to one decimal place.) 3 pts (In millions except per share data) June 30, 2010 June 30, 2009 Net sales $11,862 $11,170 Cost of sales 8,321 8,191 Gross margin $ 3,541 $ 2,979 Operating expenses: Selling expenses General and Administrative expenses $2,043 978 $2,000 955 Total operating expenses $ 3,021 $ 2,955 Income (loss) from operations $ 520 $ 24 Other Income and (expenses) (80) (93) Earnings (loss) before income taxes $ 440 ($ 69) Income taxes 161 26 Net earnings (loss) $ 279 ($ 95) Basic earnings (loss) per share $ 1.14 ($ .50)

Reference no: EM131285797

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