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Manero Company included the following information in its annual report: 2 0 1 9 2 0 1 8 2 0 1 7 Sales $ 1

Manero Company included the following information in its annual report:
2019
2018
2017
Sales
$
187,400
$
172,500
$
155,500
Cost of goods sold
115,000
102,500
100,000
Operating expenses
50,000
50,000
45,000
Operating income
22,400
20,000
10,500
In comparison to year 2017, the effect of sales growth on operating income of 2018 was (ignore taxes):

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