The following data (in millions) were taken from the financial statements of Walmart Stores, Inc:
______________________Recent Year ______________Prior Year
Revenue ........................ $446,950 ........................ $421,849
Operating expenses ............ 420,392 .......................... 396,307
Operating income ............. $ 26,558 ......................... $ 25,542
a. For Walmart Stores, Inc., determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for:
1. Revenue
2. Operating expenses
3. Operating income
b. Comment on the results of your horizontal analysis in part (a).
c. Based upon Exercise 2-23, compare and comment on the operating results of Target and Walmart for the recent year.