Horizontal Analysis of Income Statements Consolidated income statements for Cooper Manufacturing follow. Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts) Three fiscal years ended December 31 2023 2022 2021 Sales $10,088,322 $7,976,954 $7,086,542 Costs and expenses: Cost of goods sold $6,844,915 $5,107,113 $4,003,989 Research and development 592,001 664,564 602,135 Selling, general, and administrative 1,384,111 1,550,857 1,642,770 Restructuring costs and other (126,855) 320,856 50,000 $8,694,172 $7,643,390 $6,298,894 Operating income $1,394,150 $333,564 $787,648 Interest and other income, net (21,988) 29,321 49,634 Income before income taxes $1,372,162 $362,885 $837,282 Provision for income taxes 381,525 50,104 285,430 Net income $990,637 $312,781 $551,852 Earnings per common and common equivalent share $3.43 $1.18 $2.06 Common and common equivalent shares used in the calculations of earnings per share 288,740 264,985 268,110 Required: Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. Cooper ManufacturingConsolidated Income Statements 2023 2022 2021 Sales fill in the blank 1% fill in the blank 2% fill in the blank 3% Costs and expenses: Cost of goods sold fill in the blank 4% fill in the blank 5% fill in the blank 6% Research and development fill in the blank 7% fill in the blank 8% fill in the blank 9% Selling, general, and administrative fill in the blank 10% fill in the blank 11% fill in the blank 12% Restructuring costs and other fill in the blank 13% fill in the blank 14% fill in the blank 15% fill in the blank 16% fill in the blank 17% fill in the blank 18% Operating income fill in the blank 19% fill in the blank 20% fill in the blank 21% Interest and other income, net fill in the blank 22% fill in the blank 23% fill in the blank 24% Income before income taxes fill in the blank 25% fill in the blank 26% fill in the blank 27% Provision for income taxes fill in the blank 28% fill in the blank 29% fill in the blank 30% Net income fill in the blank 31% fill in the blank 32% fill in the blank 33% Earnings per common and common equivalent share fill in the blank 34% fill in the blank 35% fill in the blank 36%
Horizontal Analysis of Income Statements Consolidated income statements for Cooper Manufacturing follow. Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts) Three fiscal years ended December 31 2023 2022 2021 Sales $10,088,322 $7,976,954 $7,086,542 Costs and expenses: Cost of goods sold $6,844,915 $5,107,113 $4,003,989 Research and development 592,001 664,564 602,135 Selling, general, and administrative 1,384,111 1,550,857 1,642,770 Restructuring costs and other (126,855) 320,856 50,000 $8,694,172 $7,643,390 $6,298,894 Operating income $1,394,150 $333,564 $787,648 Interest and other income, net (21,988) 29,321 49,634 Income before income taxes $1,372,162 $362,885 $837,282 Provision for income taxes 381,525 50,104 285,430 Net income $990,637 $312,781 $551,852 Earnings per common and common equivalent share $3.43 $1.18 $2.06 Common and common equivalent shares used in the calculations of earnings per share 288,740 264,985 268,110 Required: Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above. Cooper ManufacturingConsolidated Income Statements 2023 2022 2021 Sales fill in the blank 1% fill in the blank 2% fill in the blank 3% Costs and expenses: Cost of goods sold fill in the blank 4% fill in the blank 5% fill in the blank 6% Research and development fill in the blank 7% fill in the blank 8% fill in the blank 9% Selling, general, and administrative fill in the blank 10% fill in the blank 11% fill in the blank 12% Restructuring costs and other fill in the blank 13% fill in the blank 14% fill in the blank 15% fill in the blank 16% fill in the blank 17% fill in the blank 18% Operating income fill in the blank 19% fill in the blank 20% fill in the blank 21% Interest and other income, net fill in the blank 22% fill in the blank 23% fill in the blank 24% Income before income taxes fill in the blank 25% fill in the blank 26% fill in the blank 27% Provision for income taxes fill in the blank 28% fill in the blank 29% fill in the blank 30% Net income fill in the blank 31% fill in the blank 32% fill in the blank 33% Earnings per common and common equivalent share fill in the blank 34% fill in the blank 35% fill in the blank 36%
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter9: Working Capital
Section: Chapter Questions
Problem 28E
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Horizontal Analysis of Income Statements
Consolidated income statements for Cooper Manufacturing follow.
Cooper Manufacturing Consolidated Income Statements (in thousands except per share amounts) |
|||||||||
Three fiscal years ended December 31 | |||||||||
2023 | 2022 | 2021 | |||||||
Sales | $10,088,322 | $7,976,954 | $7,086,542 | ||||||
Costs and expenses: | |||||||||
Cost of goods sold | $6,844,915 | $5,107,113 | $4,003,989 | ||||||
Research and development | 592,001 | 664,564 | 602,135 | ||||||
Selling, general, and administrative | 1,384,111 | 1,550,857 | 1,642,770 | ||||||
Restructuring costs and other | (126,855) | 320,856 | 50,000 | ||||||
$8,694,172 | $7,643,390 | $6,298,894 | |||||||
Operating income | $1,394,150 | $333,564 | $787,648 | ||||||
Interest and other income, net | (21,988) | 29,321 | 49,634 | ||||||
Income before income taxes | $1,372,162 | $362,885 | $837,282 | ||||||
Provision for income taxes | 381,525 | 50,104 | 285,430 | ||||||
Net income | $990,637 | $312,781 | $551,852 | ||||||
Earnings per common and common equivalent share | $3.43 | $1.18 | $2.06 | ||||||
Common and common equivalent shares used in the calculations of earnings per share |
288,740 | 264,985 | 268,110 |
Required:
Prepare common size income statements for horizontal analysis. Enter your answers in percentage terms, rounded to two decimal places, and do not include the "%" sign with your answer. For example, "100.00" or "28.72". For those boxes in which underlying dollar amount is shown as negative, use a minus sign. You do not need to include the actual dollar amounts shown above.
2023 | 2022 | 2021 | |
Sales | fill in the blank 1% | fill in the blank 2% | fill in the blank 3% |
Costs and expenses: | |||
Cost of goods sold | fill in the blank 4% | fill in the blank 5% | fill in the blank 6% |
Research and development | fill in the blank 7% | fill in the blank 8% | fill in the blank 9% |
Selling, general, and administrative | fill in the blank 10% | fill in the blank 11% | fill in the blank 12% |
Restructuring costs and other | fill in the blank 13% | fill in the blank 14% | fill in the blank 15% |
fill in the blank 16% | fill in the blank 17% | fill in the blank 18% | |
Operating income | fill in the blank 19% | fill in the blank 20% | fill in the blank 21% |
Interest and other income, net | fill in the blank 22% | fill in the blank 23% | fill in the blank 24% |
Income before income taxes | fill in the blank 25% | fill in the blank 26% | fill in the blank 27% |
Provision for income taxes | fill in the blank 28% | fill in the blank 29% | fill in the blank 30% |
Net income | fill in the blank 31% | fill in the blank 32% | fill in the blank 33% |
Earnings per common and common equivalent share | fill in the blank 34% | fill in the blank 35% | fill in the blank 36% |
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