Under Armour, Inc., included the following income statement in its 2011 Annual Report. All amounts are presented in thousands of dollars. 2011 2010 2009 Net revenues $1,472,684 $1,063,927 $856,411 Cost of goods sold 759,848 533,420 446,286 Gross margin 712,836 530,507 410,125 Selling, general and administrative 550,069 418,152 324,852 expenses Income from operations 162,767 112,355 85,273 Interest expense, net 3,841 2,258 2,344 Other expense, net 2,064 1,178 511 Income before income taxes 156,862 108,919 82,418 Income tax provision 59,943 40,442 35,633 Net income $ 96,919 $ 68,477 $ 46,785 Prepare a horizontal analysis of Under Armour's income statement. (Round percentage answers to 1 decimal place, e.g. 10.5%.) 2011 2010 $ Change % Change $ Change % Change Net revenues 2$ % $4 % Cost of goods sold % % Gross margin % % Selling, general and administrative expenses % % Income from operations % % Interest expense, net % Other expense, net % Income before income taxes % % Income tax provision % % Net income $4 % $ Prepare a trend analysis for Net Revenues and Income from Operations. (Round answers to 1 decimal place, e.g. 10.5%.) 2011 2010 2009 Net revenues % % Income from operations % % % Click if you would like to Show Work for this question: Open Show Work