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Prepare a horizontal analysis for the income statement

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Reference no: EM132679479

Problem - Horizontal Analysis of Income Statement

The following data were adapted from the financial statements of Kmart Corporation, prior to its filing for bankruptcy:

 

In millions

For years ending January 31

2000

1999

Sales

$ 37,028

$ 35,925

Cost of sales (expense)

(29,658)

(28,111)

Selling, general, and administrative expenses

(7,415)

(6,514)

Operating income (loss)

$ (45)

$ 1,300

Required -

a. Prepare a horizontal analysis for the income statement showing the amount and percent of change in each of the following:

1. Sales

2. Cost of sales

3. Selling, general, and administrative expenses

4. Operating income

b. Comment on the results of your horizontal analysis in part (a).

Reference no: EM132679479

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