CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME Common-Size Analysis Trend Analysis (In millions, except share and per share amounts) 2019-2020 2021 2020 2020-2021 Fiscal Years Ended December 31, (Percent of Net Sales) 2019 $ Change % Change $ Change % Change 2021 2020 5,750 $ 4,440 $ 6,095 Net sales 3,840 3,132 3,840 Cost of Goods Sold GROSS PROFIT 1,150 777 1,035 Stores and Distribution Expense 460 333 575 Selling, General and Administrative Expense 12 22 35 Other Operating Expense (Income), Net OPERATING INCOME (1) (4) (2) Interest Income (Expense) OPERATING INCOME BEFORE TAXES 115 78 230 Income Tax Expense NET INCOME EARNINGS PER SHARE Calculate the following for: 2021 2020 Formulas/Links: n/a n/a Gross Profit Margin (percentage) Net Profit Margin (percentage) n/a n/a Select the possible explanations for the change in the Gross Profit Margin from 2020 to 2021:
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME Common-Size Analysis Trend Analysis (In millions, except share and per share amounts) 2019-2020 2021 2020 2020-2021 Fiscal Years Ended December 31, (Percent of Net Sales) 2019 $ Change % Change $ Change % Change 2021 2020 5,750 $ 4,440 $ 6,095 Net sales 3,840 3,132 3,840 Cost of Goods Sold GROSS PROFIT 1,150 777 1,035 Stores and Distribution Expense 460 333 575 Selling, General and Administrative Expense 12 22 35 Other Operating Expense (Income), Net OPERATING INCOME (1) (4) (2) Interest Income (Expense) OPERATING INCOME BEFORE TAXES 115 78 230 Income Tax Expense NET INCOME EARNINGS PER SHARE Calculate the following for: 2021 2020 Formulas/Links: n/a n/a Gross Profit Margin (percentage) Net Profit Margin (percentage) n/a n/a Select the possible explanations for the change in the Gross Profit Margin from 2020 to 2021:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 16E
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