1. What are the key operating segments at Amazon? How much (in %) did each operating segment contribute to Amazon's revenues (net sales) in 2019? (3 pts.) 2. What is the fastest growing operating segment? (3 pts.) 3. What is the most profitable operating segment? (3 pts.) 4. What is Amazon's y/y revenue trend? (3 pts.) 5. What is Amazon's y/y gross margin trend? (3 pts.) 6. What is Amazon's y/y net margin trend? (3 pts.) 7. How much money did Amazon spend on fulfillment in 2019? (3 pts.) Year Ended December 31, 2017 2018 2019 Net product sales Net service sales Total net sales Operating expenses: Cost of sales Fulfillment 118,573 S 141,915 $ 160,408 59,293 90,972 120,114 177,866 232,887 280,522 111,934 139,156 165,536 25,249 34,027 40,232 Technology and content 22,620 28,837 35,931 Marketing 10,069 13,814 18,878 General and administrative 3,674 4,336 5,203 Other operating expense (income), net 214 296 Total operating expenses 173,760 220,466 Operating income 4,106 12,421 Interest income 202 440 Interest expense (848) (1,417) 201 265,981 14,541 832 (1,600) Other income (expense), net Total non-operating income (expense) Income before income taxes Provision for income taxes Net income 346 (183) 203 (300) (1,160) (565) 3,806 11,261 13,976 (769) (1,197) (2,374) Equity-method investment activity, net of tax (4) 9. (14) $ 3,033 S 10,073 S 11,588 Basic earnings per share $ 6.32 $ 20.68 $ 23.46 Diluted earnings per share $ 6.15 S 20.14 S 23.01 Weighted-average shares used in computation of earnings per share: Basic Diluted 480 487 494 493 500 504