1. Needhelpwithquestiona:part2,andb:parts1and2.Thanks
3. Vertical Analysis of Income StatementThe following data (in millions) are taken from recent financial statements of Nike Inc.:

   Net 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 percent to one decimal place.

   Amount of change	$	million
   Percent of change in net income	%

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

   Year 2:	%
   Year 1:	%

   c. Does the net income as a percent of net sales show a favorable trend for Nike Inc.? Feedback a. Subtract to obtain the differences between net income and use Year 1 as the base year to determine the percentage of change.b. Vertical analysis of the income statement states each item for each year as a percentage of the net sales for that year.c. To determine the trend, compare the percentages for the base (oldest) year with those of the most recent year. Is the percentage of net income to net sales increasing or decreasing?Learning Objective 5.

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