Suppose the following historical data is from the consolidated income statements filed by a media corporation.
*chart attached*
A): Prepare a horizontal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.)
(how to answer chart is attached)
Extracted text: Consolidated Statement of Income Year ended December 31 2013 2012 2011 (in millions, except per share data) Revenue $64,655 $62,571 $55,842 Costs and Expenses: Programming and production Other operating and administrative Advertising, marketing and promotion 19,668 19,930 16,596 18,582 17,834 16,646 4,967 4,832 4,243 Depreciation 6,252 6,151 6,040 Amortization 1,615 1,649 1,596 51,084 50,396 45,121 Operating Income 13,571 12,175 10,721 Other Income (Expense): Interest expense (2,576) (2,520) (2,505) Investment income (loss), net 574 220 159 Equity in net income (losses) of investees, net (88) (366) (35) (133) (2,514) 960 Other income (expense), net 774 (2,456) (566) Income before income taxes 11,115 11,609 8,207 Income tax expense (3,982) (3,743) (3,050) Net income 7,133 7,866 5,157 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock (321) (1,661) (997) Net Income Attributable to Corporation $6,812 $6,205 $4,160 Basic earnings per common share attributable to Corporation Corporation shareholders $2.60 $2.32 $1.51 Diluted earnings per common share attributable to Corporation Corporation shareholders $2.56 $2.28 $1.50 Dividends declared per common share $0.78 $0.65 $0.45
Extracted text: (a) Prepare a horizantal analysis of the net income comparing 2012 and 2013. (Round percentages to one decimal place.) Consolidated Statement of Income Increase (Decrease) Year ended December 31 2013 2012 Amount Percent (in millions) Revenue Costs and Expenses: Programming and Production Other operating and administrative Advertising, Marketing, and Promotion Depreciation Amortization Operating Income Other Income (Expense): Interest Expense Investment Income (Loss), Net Equity in Net Income (Losses) of Investees, Net Other Income (Expense), Net Income before Income Taxes Income Tax Expense Net Income Net (Income) Loss Attributable to Noncontrolling Interests and Redeemable Subsidiary Preferred Stock Net Income Attributable to Corporation