Try another version of this question Question 1
Margaret Corp. reported the following on its comparative income statement:
2020 2019 2018 Revenue $9,920 $9,500 $9,220 Cost of Goods Sold 7,250 6,700 6,123
Prepare a horizontal analysis of revenues and gross profit--both in dollar amounts and in percentages--for 2020 and 2019.
Increase (Decrease) 2020 Increase (Decrease) 2019 2020 2019 2018 Amount Percent Amount Percent Revenue COGS Gross Profit Increase (Decrease) 2020 Increase (Decrease) 2019 2020 2019 2018 Amount Percent Amount Percent Revenue 9,920.00 9,500.00 9,220.00 420.00 4.42 280.00 3.04 COGS 7,250.00 6,700.00 6,123.00 550.00 8.21 577.00 9.42 Gross Profit 2,670.00 2,800.00 3,097.00 -130.00 -4.64 -297.00 -9.59