A CMA performs a horizontal analysis on Jones Cos historical data. Her results are shown below (in
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Question:
A CMA performs a horizontal analysis on Jones Co’s 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% |
Expert Answer:
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