5. Trust Corp reported the following on its comparative income statement On mill

Question

5. Trust Corp reported the following on its comparative income statement On millions) Net Sales Revenue Cost of Goods Sold 2019 2018 $ 15,000 S 13,000 5.500 3000 Prepare a horizontal analysis of net sales revenue, cost of goods sold, and gross prof?0th in dollar amounts and in percentages. Enter amounts in millions Run Trust, Corp Income Statement- (Partial) Years Ended December 31, 2019 and 2018 Increase (Decrease) 2019 2018 Amount Percentage (Amounts in millions) Net Sales Revenue Cost of Goods Sold Gross Profi S 15,000 S 13.000 5.500 3,000

Explanation / Answer

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CHANGE IN

Net sales revenue( in amount) = $15,000-$13,000

= $2,000

Net sales revenue( in percentage) = $2,000/$13,000

= 15.38%

COGS (in amount ) = $5,500-$3,000

= $ 2,500

COGS (in percentage) = $2,500/$3,000

= 83.34%

Gross Profit = $9,500 - $ 10,000

= $ (500)

Gross profit ( in percentage) = $(500)/$10,000

= (5%)

Trust Corp. Income Statement Amount in Millions 2019 2018 Amount Percentage Net slaes Revenue $15,000 $13,000 $2,000 15.38% Cost of Goods Sold $ 5,500 $ 3,000 $2,500 83.34% Gross Profit $ 9,500 $10,000 $(500) (5%)

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