Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac

Exercise 24

Horizontal analysis of income statement
The following data (in millions) were taken from the financial statements of Walmart Stores, Inc :

a. For Walmart Stores, Inc., determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for:
1. Revenue
2. Operating expenses
3. Operating income
b. Comment on the results of your horizontal analysis in part (a).
c. Based upon Exercise 2-23, compare and comment on the operating results of Target and Walmart for the recent year.