In: Accounting
Ford Motor Company is the world’s second-largest producer of cars and trucks and ranks among the largest providers of financial services in the United States. The following information pertains to Ford: (in millions)
(in millions) | 1998 | 1999 | 2000 |
Sales | $118.017 | $135,073 | $141,230 |
Cost of goods sold | 104,616 | 118,985 | 126,120 |
Gross margin | $ 13,401 | $ 16,088 | $ 15,110 |
Operating expenses | 7,834 | 8,874 | 9,884 |
Net operating income | $ 5,567 | $ 7,214 | $ 5,226 |
Prepare a statement showing the trend percentages for each item, using 1998 as the base year.
Comment on the trends noted in part (a).