9:31 expense Net Income 1,933 4,240 LTE Subtract the 5/31/17 number from the 5/31/18 number to calculate the change over the year. Calculate the percentage change by diving the change amount by the 5/31/17 number. Round to the nearest tenth of a percent. Comment on whether the expenses (cost of sales, selling and admin exp, interest exp and income tax exp) has increased at a higher rate than the sales has increased and how net income is affected. Vertical analysis: prepare a vertical analysis of Nikes Statement of Income. 5/31/18 5/31/17 Revenues 36,397 100% 34,350 100% Cost of sales 20.441 19.038 Gross profit 15,956 15.312 Total selling and 11.511 10.563 admin exp Interest expense 54 59 Other expense 66 (196) (income) Income before 4,325 4,886 xes come tax 2.392 646 xpense et Income 1,933 4,240 Divide every number on the income statement by the current year revenue to express each account or subtotal as a percent of revenue. Round to the nearest tenth of a percent. Comment on what the comparison of the percentages of the accounts between the two years shows.