Horizontal analysis of income statement
The following data (in millions) were taken the financial statements of Walmart Stores, Inc.
| Recent Year | Prior Year | |
| Revenue | $421,849 | $408,085 |
| Operating expenses | 396,307 | 384,083 |
| Operating income | $ 25,542 | $ 24,002 |
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:
a. Revenue
b. Operating expenses
c. 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.
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