The following data are taken from recent financial statement of Nike, Inc. (in millions): Year 2 Year 1 Sales (revenues) $30,601 $27,799 Net income 3,273 2,693 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: $ Percentage: 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:
The following data are taken from recent financial statement of Nike, Inc. (in millions): Year 2 Year 1 Sales (revenues) $30,601 $27,799 Net income 3,273 2,693 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: $ Percentage: 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:
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter3: The Adjusting Process
Section: Chapter Questions
Problem 29E
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Vertical analysis
The following data are taken from recent financial statement of Nike, Inc. (in millions):
| Year 2 | Year 1 | |
| Sales (revenues) | $30,601 | $27,799 |
| Net income | 3,273 | 2,693 |
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: $
Percentage:
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:
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