Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Using the following information from an annual report, prepare a horizontal analysis of th

Using the following information from an annual report, prepare a horizontal analysis of th

Using the following information from an annual report, prepare a horizontal analysis of the consolidated statements of earnings. (Round percentage answers to one decimal place.)

 

(In millions except per share data)

     June 30, 20x8

    June 30, 20x7

Net sales

$11,862

$11,170

Cost of sales

    8,321

    8,191

Gross margin

$  3,541

$  2,979

Operating expenses:

 

 

Selling, general, and administrative expenses

$  2,743

$  2,443

Depreciation, amortization, and asset write-offs

       278

       255

Total operating expenses

$  3,021

$  2,698

Other charges

 

       294

Total operating expenses and other charges

$  3,021

$  2,992

Income (loss) from operations

$     520

($       13)

Interest expense

(91)

(102)

Interest and other income

         11

           9

Earnings (loss) before income taxes

$     440

($    106)

Income taxes

       161

         26

Net earnings (loss)

$     279

($     132)

Basic earnings (loss) per share

$    1.14

($    0.50)

       

 

 

 

 

 

     Increase (Decrease)

(In millions except per share data)

June 30, 20x8

June 30, 20x7

Amount

Percentage

Net sales

 

 

 

 

Cost of sales

 

 

 

 

Gross margin

 

 

 

 

Operating expenses:

 

 

 

 

Selling, general, and administrative expenses

 

 

 

 

Depreciation, amortization, and asset write-offs

 

 

 

 

Total operating expenses

 

 

 

 

Other charges

 

 

 

 

Total operating expenses and other charges

 

 

 

 

Income (loss) from operations

 

 

 

 

Interest expense

 

 

 

 

Interest and other income

 

 

 

 

Earnings (loss) before income taxes

 

 

 

 

Income taxes

 

 

 

 

Net earnings (loss)

 

 

 

 

Basic earnings (loss) per share

 

 

 

 

               

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

173.Using the following information reported in an annual report, prepare a horizontal analysis of the consolidated balance sheets. (Round percentage answers to one decimal place.)

 

(In millions)

          June 30, 20x8

          June 30, 20x7

Cash and cash equivalents

$   584

$   410

Accounts and other receivables

182

204

Merchandise inventories

2,027

1,902

Prepaid expenses and other current assets

       80

       81

Total current assets

$2,873

$2,597

Real estate, net

$2,342

$2,354

Other, net

  2,113

  1,872

Total property and equipment

$4,455

$4,226

Goodwill, net

$   374

$   347

Other assets

     651

     729

Total assets

$8,353

$7,899

 

 

 

Short-term borrowings

$   278

$   156

Accounts payable

1,617

1,415

Accrued expenses and other current liabilities

836

696

Income taxes payable

     107

     224

Total current liabilities

$2,838

$2,491

Long-term debt

$1,230

$1,222

Deferred income taxes

362

333

Other liabilities

     243

     229

Total liabilities

$4,673

$4,275

 

 

 

Common stock

$     30

$     30

Additional paid-in capital

453

459

Retained earnings

4,757

4,478

Foreign currency translation adjustments

(137)

(100)

Treasury shares, at cost

(1,423)

(1,243)

Total stockholders' equity

$3,680

$3,624

Total liabilities and stockholders' equity

$8,353

$7,899

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

                  June 30,

20x8

                      June 30,

20x7

 

Increase               Amount

 

(Decrease)            Percentage

Cash and cash equivalents

 

 

 

 

Accounts and other receivables

 

 

 

 

Merchandise inventories

 

 

 

 

Prepaid expenses and other current assets

 

 

 

 

Total current assets

 

 

 

 

Real estate, net

 

 

 

 

Other, net

 

 

 

 

Total property and equipment

 

 

 

 

Goodwill, net

 

 

 

 

Other assets

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

Short-term borrowings

 

 

 

 

Accounts payable

 

 

 

 

Accrued expenses and other current liabilities

 

 

 

 

Income taxes payable

 

 

 

 

Total current liabilities

 

 

 

 

Long-term debt

 

 

 

 

Deferred income taxes

 

 

 

 

Other liabilities

 

 

 

 

Total liabilities

 

 

 

 

 

 

 

 

 

Common stock

 

 

 

 

Additional paid-in capital

 

 

 

 

Retained earnings

 

 

 

 

Foreign currency translation adjustments

 

 

 

 

Treasury shares, at cost

 

 

 

 

Total stockholders' equity

 

 

 

 

Total liabilities and stockholders' equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dec 11 2019 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions