The 2009, 2008, and 2007 income statements for Entertainment Enterprises appear on the following page.

Required:
1. Calculate how much each of the revenues and expenses changed from 2007 through 2009.
2. Explain what were the primary causes of Entertainment Enterprises' increase in net income in 2008 and the decrease in2009.

Transcribed Image Text:

Entertainment Enterprises Income Statement Year Ended December 31, 2009 2007 Revenue:s Theme parks and resorts Filmed entertainment $3,440.7 3,673.4 5 $3,306.9 3,115.2 1,081.9 $2,794.3 2,593.7 724.0 Consumer products $8,529.2 Costs and Expenses Theme parks and resorts Filmed entertainment Consumer products $2,693.8 3,051.2 1,059.7 $2,662.9 2,606.9 798.9 $2,247.7 2,275.6 Operating Income $ 746.9 622.2 355.4 $644.0 508.3 283.0 $546.6 318.1 229.8 $1,094.5 Theme parks and resorts Filmed entertainment Consumer products Corporate Activities General and administrative $164.2 157.7 $ 148.2 126.8 expenses Interest expense Investment and interest income S 160.8 105.0 (119.4) 146.4 $ 144.7 Income (loss) on investment in Income before income taxes Net income Asian theme park S (514.7) $1,074.0 402.7 Income taxes 485.1 375.3 $636.6