Question: McCormick, Corp., reported the following on its comparative income statement: Requirement 1. Prepare a horizontal analysis of revenues and gross profitboth in dollar amounts and

McCormick, Corp., reported the following on its comparative income statement:

(In millions) Revenue Cost of sales 2011 2010 2012 $9,300 5,975 $8,975 $9,575 6,000 5,900

Requirement
1. Prepare a horizontal analysis of revenues and gross profit€”both in dollar amounts and in percentages€”for 2012 and2011.

(In millions) Revenue Cost of sales 2011 2010 2012 $9,300 5,975 $8,975 $9,575 6,000 5,900

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