Vertical analysis of income statement OBJ. 5 The following data (in millions) are taken from recent financial statements of Nike Inc.:

Year 2 Year 1 Sales (revenues) $24,128 $20,862 Net income 2,223 2,133

a. Determine the amount of change (in millions) and percent of change in net income for Year 2. Round to one decimal place.

b. Determine the percentage relationship between net income and sales (net income divided by sales) for Year 2 and Year 1. Round to one decimal place.

c. What conclusions can you draw from your analysis?