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Category > Accounting Posted 26 Sep 2017 My Price 6.00

Kmart Corporation

EX 2-24 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

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 (loss)

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

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Maurice Tutor
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Status NEW Posted 26 Sep 2017 02:09 PM My Price 6.00

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