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

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


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


Prepare a horizontal analysis of revenues and gross profit—both in dollar amounts and in percentages—for 2016 and2015.

2014 2015 $9,575 $9,300 $8,975 5,975 2016 (in millions) Revenue Cost of Goods Sold 6,000 5,900

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