Question: 1. CMA does a horizontal analysis on Jones CO historical data. Restults are in millions. Year 1 Year 2 Year 3 Year 4 sales 250

1. CMA does a horizontal analysis on Jones CO historical data. Restults are in millions.

Year 1 Year 2 Year 3 Year 4

sales 250 275 280 285

Earnings before tax 175 185 195 205

tax rate Year 1 35% 35% 35% 20%

What is percentage increase of net income from year 1 to 3?

23.3%, 26.7%, 46.7%, or 55.9%

Thank you.

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