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Some key data from Amazon's quarterly report for the 9 months ended 9/30/19 is shown below. Note that Total Revenue includes both Net Product Sales

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Some key data from Amazon's quarterly report for the 9 months ended 9/30/19 is shown below. Note that Total Revenue includes both Net Product Sales (as shown in the previous question) and Service Revenue. for the 9 months ended (in millions 9/30/2019 9/30/2018 Total Revenue (Product Sales & Service $193,086 Revenue) $160,504 Operating expenses $182 424 $151,869 Operating income $10,662 $8,635 When comparing the results for the 9 months ended 9/30/19 to the 9 months ended 9/30/18, which is correct regarding the following two statements (1.) Total Revenue increased by about 20.3% whereas operating expenses increased by slightly less (by about 20.1%) which led to an increase in operating income by more than 23%. (2.) Operating income as a percentage of total revenue increased to about 5.52% compared to about 5.38% for the prior 9 months ended 9/30/2018 Both statements are correct. Neither statement is correct. Statement #1 is correct while statement #2 is not correct Statement #2 is correct while statement #1 is not correct

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