What were gross profit rate (aka gross profit margin for 2023 and 2022? Based on this metric only, did Nike Inc. profitability improved or not. Nike Inc. Income Statement For year ended May 31 In millions Net sales Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense Interest expense (income), net Other (income) expense, net Income before income taxes Income tax expense NET INCOME Gross profit rate improved from 44% to 46% Gross profit rate dropped from 46% to 44% Gross profit rate improved from 10% to 13% Gross profit rate improved by $813 2023 $ 51,217 28,925 22,292 4,060 12,317 16,377 (6) (280) 6,201 1,131 $ 5,070 2022 $ 46,710 25,231 21,479 3,850 10,954 14,804 205 (181) 6,651 605 $6,046 2021 $44,538 24,576 19,962 3,114 9,911 13,025 262 14 6,661 934 $ 5,727

What were gross profit rate (aka gross profit margin for 2023 and 2022? Based on this metric only, did Nike Inc. profitability improved or not. Gross profit rate improved from 44% to 46% Gross profit rate dropped from 46% to 44% Gross profit rate improved from 10% to 13% Gross profit rate improved by $813