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Expressed as a percentage of sales revenue, by what percent has the amount spent on marketing increased or (decreased) when the ratio for the fiscal
Expressed as a percentage of sales revenue, by what percent has the amount spent on marketing increased or (decreased) when the ratio for the fiscal year ended 12/31/16 is compared to the ratio for the fiscal year ended 12/31/18? Round to 2 decimal places.
Consolidated Income Statement (in thousands) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Revenues | $ 15,794,341 | $ 11,692,713 | $ 8,830,669 |
Cost of revenues | 9,967,538 | 8,033,000 | 6,257,462 |
Gross Margin | 5,826,803 | 3,659,713 | 2,573,207 |
Expenses: | |||
Marketing expense | 2,369,469 | 1,436,281 | 1,097,519 |
Technology and development expense | 1,221,814 | 953,710 | 780,232 |
General and administrative expense | 630,294 | 431,043 | 315,663 |
Total Expenses | 4,221,577 | 2,821,034 | 2,193,414 |
Operating income | 1,605,226 | 838,679 | 379,793 |
Interest expense | 420,493 | 238,204 | 150,114 |
Other income (expense) | 41,725 | (115,154) | 30,828 |
Income before income tax expense | 1,226,458 | 485,321 | 260,507 |
Income tax expense | 15,216 | (73,608) | 73,829 |
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