For Problems 3 and 4 in the assignment, use Harley-Davidson's financial statements included in separate tabs in the attached document.

3. Using the income statement, calculate the percent change using horizontal analysis (2011 to 2012) for the revenue and evaluate the results.

Change:

Evaluation:

4. Using the income statement, calculate the percent change using vertical analysis (2011 to 2012) for the revenue, COGS, gross profit, operating expenses and EBIT, and evaluate the results.

Revenue:

Gross profit:

OE:

EBIT:

Evaluation: