Horizontal Analysis for Kellogg’s
Refer to the financial statement information of Kellogg’s reprinted at the back of the book.
1. Prepare a work sheet with the following headings:
2. Complete the work sheet using each of the account titles on Kellogg’s income statement.
Round all percentages to the nearest one-tenth of a percent.
3. What observations can you make from this horizontal analysis? What is your overall analysis
of operations? Have the company’s operations improved over the three-year period?