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thkeAssignment ess true FirstAccess H Netflix G Chegg® M.Campus Mc pMC web Print Gas Laws Overeew.. Charles River aesni Other bookmarks his Masasoit BCS RockladTrust eBook Show Me HOw Horizontal Analysis of Income Statement The following data (Cin millions) are taken from the financial statements of Tarrow Corporation. Recent Year $626,580 530,112 96,468 Prior Year $590,000 502,000 88,000 Revenue Operating expenses Operating income a. For Tarrow Corporation, determine the amount of change in milions 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 Amount of Change (in millions) Percent of Change Increase or Decrease 1. Revenue 2. Operating expenses t_ 3. Operating income and operating expenses . As a result, operating income w ,atn) trend from b. During the recent year, revenue the prior year Previous Next Check My Work 2 more Check My Work uses remaning Submit for Grading All work saved Ba

Solution

(a).

Amount of change (in Millions)

Percentage of Change

Increase or Decrease

1. Revenue

$36580

6.20%

Increase

2. Operating expense

$28112

5.60%

Increase

3. Operating income

$8468

9.62%

Increase

(b).

During the recent year, revenue increased by $36580 (millions) and operating expenses increased by $28112 (millions) As a result, operating income increased by $8468 (millions) an increasing trend from the prior year.

	Amount of change (in Millions)	Percentage of Change	Increase or Decrease
1. Revenue	$36580	6.20%	Increase
2. Operating expense	$28112	5.60%	Increase
3. Operating income	$8468	9.62%	Increase