Please calculate the verticle and horizontal analysis of the Income statement. Consolidated Statements of Earnings (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified 12/31/2020 Vertical Analysis 12/31/2019 Vertical Analysis Horizontal Analysis Income Statement [Abstract] NET SALES $83,176 $78,812 Cost of Sales 54,222 51,422 GROSS PROFIT 28,954 27,390 Operating Expenses: Selling, General and Administrative 16,834 16,597 Depreciation and Amortization 1,651 1,627 Total Operating Expenses 18,485 18,224 OPERATING INCOME 10,469 9,166 Interest and Other (Income) Expense: Interest and Investment Income -337 -12 Interest Expense 830 711 Other 0 0 Interest and Other, net 493 699 EARNINGS BEFORE PROVISION FOR INCOME TAXES 9,976 8,467 Provision for Income Taxes 3,631 3,082 NET EARNINGS $6,345 $5,385 Weighted Average Common Shares 1,338 1,425 BASIC EARNINGS PER SHARE $4.74 $3.78
Please calculate the verticle and horizontal analysis of the Income statement. Consolidated Statements of Earnings (USD $) 12 Months Ended In Millions, except Per Share data, unless otherwise specified 12/31/2020 Vertical Analysis 12/31/2019 Vertical Analysis Horizontal Analysis Income Statement [Abstract] NET SALES $83,176 $78,812 Cost of Sales 54,222 51,422 GROSS PROFIT 28,954 27,390 Operating Expenses: Selling, General and Administrative 16,834 16,597 Depreciation and Amortization 1,651 1,627 Total Operating Expenses 18,485 18,224 OPERATING INCOME 10,469 9,166 Interest and Other (Income) Expense: Interest and Investment Income -337 -12 Interest Expense 830 711 Other 0 0 Interest and Other, net 493 699 EARNINGS BEFORE PROVISION FOR INCOME TAXES 9,976 8,467 Provision for Income Taxes 3,631 3,082 NET EARNINGS $6,345 $5,385 Weighted Average Common Shares 1,338 1,425 BASIC EARNINGS PER SHARE $4.74 $3.78
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 1PA
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Question
Please calculate the verticle and horizontal analysis of the Income statement.
Consolidated Statements of Earnings (USD $) | 12 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | 12/31/2020 | Vertical Analysis | 12/31/2019 | Vertical Analysis | Horizontal Analysis |
Income Statement [Abstract] | |||||
NET SALES | $83,176 | $78,812 | |||
Cost of Sales | 54,222 | 51,422 | |||
GROSS PROFIT | 28,954 | 27,390 | |||
Operating Expenses: | |||||
Selling, General and Administrative | 16,834 | 16,597 | |||
Depreciation and Amortization | 1,651 | 1,627 | |||
Total Operating Expenses | 18,485 | 18,224 | |||
OPERATING INCOME | 10,469 | 9,166 | |||
Interest and Other (Income) Expense: | |||||
Interest and Investment Income | -337 | -12 | |||
Interest Expense | 830 | 711 | |||
Other | 0 | 0 | |||
Interest and Other, net | 493 | 699 | |||
EARNINGS BEFORE PROVISION FOR INCOME TAXES | 9,976 | 8,467 | |||
Provision for Income Taxes | 3,631 | 3,082 | |||
NET EARNINGS | $6,345 | $5,385 | |||
Weighted Average Common Shares | 1,338 | 1,425 | |||
BASIC EARNINGS PER SHARE | $4.74 | $3.78 | |||
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