Verizon Communications, Inc. is one of the world’s largest providers of communication services. The following information, taken from the company’s annual reports, is available for the years 2018, 2017, and 2016. Dollar amounts are in millions.

Required
Divide the class into groups of four or five students. Organize the groups into three sections. Assign each section of groups the financial data for one of the preceding accounting periods.
Group Tasks
(1) Determine the amount of net income for the year assigned.
(2) How does the result in item 1 affect the retained earnings of the company?
(3) Compute the percentage growth rate for each year.

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2018 2017 Revenues $130,863 $126,034 Operating expenses 108,585 98,609 In 2015, Verizon's operating income was $33,060. Operating income is a subcategory of net income. 2016 $125,980 96,731