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The following data are taken from recent financial statement of Nike, Inc. (in millions) : Year 2 Year 1 Sales (revenues) $27,799 $25,313 Net income
The following data are taken from recent financial statement of Nike, Inc. (in millions) : Year 2 Year 1 Sales (revenues) $27,799 $25,313 Net income 2,693 2,472 a. Determine the amount of change (in millions) and percent of change in net income from Year 1 to Year 2. (Round to one decimal place.) Amount (in millions) Percentage Change in Net Income 96 b. Determine the percentage relationship between net income and sales for Year 2 and Year 1. (Round to one decimal place.) Year 1: Year 2: c. Based on the information provided in the question, which of the following statements is correct? Jhe a. Nike's net income between b. Nike's net income between the two years has increased by 8.9 %. c. The growth in earnings is due to the reduction in expenses. d. The growth in earnings is due to increase in expenses. two years has increased by 20 %
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