Question: A CMA performs a horizontal analysis on Jones Cos historical data. Her results are shown below (in millions): Year 1 Year 2 Year 3 Year

A CMA performs a horizontal analysis on Jones Cos historical data. Her results are shown below (in millions):

Year 1 Year 2 Year 3 Year 4
Sales 250 275 280 285
Earnings Before Taxes 175 185 195 205
Tax Rate 35% 35% 35% 20%

What is the percentage increase in net income from Year 1 to Year 3?

Question 1 options:

23.3%

26.7%

46.7%

55.9%

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