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Vertical analysis Amazon.com, Inc. is the largest Internet retailer in the United States. Amazon's income statements through operating income for two recent years are as

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Vertical analysis Amazon.com, Inc. is the largest Internet retailer in the United States. Amazon's income statements through operating income for two recent years are as follows (in millions): Amazon.com, Inc. Operating Income Statements For the Years Ended December 31 (in millions) Year 2 Year 1 Product sales $141,915 $118,573 Service sales 90,972 59,293 Total sales $232,887 $177,866 Cost of sales $139,156 $111,934 Fulfillment 34,027 25,249 Marketing 13,814 10,069 Technology and content 28,837 22,620 General and administrative 4,336 3,674 Other operating expense, net 296 214 Total operating expenses $220,466 $173,760 Operating income $12,421 $4,106 Required: a. Prepare a vertical analysis of the two operating income statements. Round percentages to one decimal place. Amazon.com, Inc. Operating Income Statements For the Years Ended December 31 (in millions) Year 2 Year 1 Amount Percent Amount Percent Product sales % % Service sales % % Total sales % $ % % $ % % % % % Cost of sales $ Fulfillment Marketing Technology and content General and administrative Other operating expense, net % % % % % % % $ % Total operating expenses Operating income % %

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