Procter & Gamble Company produces household products under brand names such as Gillette, Bounty, Crest, Folgers, and Tide. The company’s 2008 income statement showed the following (in millions):

Net sales ..................................................................................    $83,503

Costs of products sold ...........................................................      40,695

Selling, general, and administrative expense .....................      25,725

Operating income ..................................................................    $17,083

Suppose that the cost of products sold is the only variable cost; selling, general, and administrative expenses are fixed with respect to sales. Assume that Procter & Gamble had a 20 percent decrease in sales in 2009 and that there was no change in costs except for decreases associated with the lower volume of sales. Compute the predicted 2009 operating income for Procter & Gamble and its percentage decrease. Explain why the percentage decrease in income differs from the percentage decrease in sales.