given these statments is this correct?

Yew Ended December 2015 2014 5 2.42 : 20 (120 2 305) (211 2) 27 Company X, Inc. Consolidated Statements of Cash Flows In milions) Cash provided by operations Net income Income changes credite Depreciation Deferred Income 500 Stock-based compensation (113) (11) 101 171 Amortization and other Net foreign Currency adjustments 424 Net gain on divestres Changes in certain working at Coments and other as and (Increase) decrease in accounts receivable (216) Increase) in Inventories 1621) increase) in prepaid expenses and other currentes (146) 02:10) sos Increase in accounts payable, und abilities and comes payable 3013 Cash vided to corations Cash used by Investing activities Purchases of short-term investments Maturies of short-term investments Sales of short-term investments (150) Investments in reverse repurchase agreements Additions to property, plant and equipment Disposals of property, plant and equipment Proceeds from divestitures Increase in other assets not of other liabilities Cash used by investing activities Cash used by financing activities Net proceeds from long-term debitissance Long-term debit payments, including current portion (Decrease) increase in notes payable Payments on capital lease obligations 4 D (4.935) 14.1333 163 302 1.126 1330 2.216 1963) 14 3 76 0 201 DD 10 (19) 514 313 T2 1.674 160) 75 (17) 383 122 2.626) (0 (2.914) 02 11.117) 3,397 2720 218 (2.534) tes) 12.750) 183) 1632 2720 352 2091 (1945) 1.085 2254 3.799 5 $ 20 Proceeds from exercise of stock options and other stock issances Excess tax benefits from share based payment arrangements Repurchase of common stock Dividends - common and preferred Cash used by financing activities Elfect of exchange rate changes on cash and equivalents Net increase (decrease in cash and equivalents Cash and equivalents, beginning of year CASH AND EQUIVALENTS, END OF YEAR Supplemental disclosure of cash flow Information: Cash paid during the year for Interest, net of capitalized interest Income taxes Non-cash additions to property, plant and equipment 5 53 $ 702 53 856 167 1262 206 Co. X, Inc. Consolidated Statements of Income PAS 2014 25515 1 1 (in millions, except per share data) Income from Corting operation Revenues Costs and expenses Cost of sales Selling expense Administrative expense 16534 3.213 14 2.145 30 s!! 7,29 9.90 26 (15) 1.25 4 205 3.546 151 2013 2,451 Total selling and administrative experie Interest expense (income), net Other (income) expense, not Income before income Les income tax expense NET INCOME FROM CONTINUING OPERATIONS NET INCOME FROM DISCONTINUED OPERATIONS NET INCOME 3.273 2.02 5 2.899 3773 2.74 $ 3.06 $ 3.9 0.31 $ 099 1.08 Esmings per common share Dividends declared per common share Company X, Inc. Consolidated Balance Sheets As of December 31 2016 2015 $ $ (In millions) ASSETS Current assets: Cash and equivalents Short-term investments Accounts receivable, nel Inventories Deferred Income taxes Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Identifiable intangible assets, net Goodwill Deferred income taxes and other assets TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term deb! Dividends payable Accounts payable 3,852 2.072 3,358 4,237 389 1.968 15,976 3,011 281 131 2.220 2.922 3.434 3.947 355 B1B 13.696 2 B34 282 131 2201 5 21,600 1651 18,594 7 $ $ 107 26 2,179 3,951 71 2,097 2.491 432 Accrued liabilities the accured 2014 Income taxes payable Total current liabilities Long-term debit Deferred income taxes and other liabilities Total liabilities 6,334 1,079 1.480 8,893 5,027 1,199 1,544 7,770 3 3 Shareholders' equity Common stock at stated value 1.200 shares authorized --679 (2016 and 2015) shares issued Capital in excess of stated value Retained earings Treasury stock Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 8,019 11,521 16.836) 12,707 $ 21,600 5,950 9,173 14,302) 10,824 18,594 $ Use the financial statements for Corporation X, Inc. to answer the following question. The gross profit percentage was 44.8% in 2015 and 43,6% in 2014. Which of the following statements is true? Cost of goods sold is increasing relative to sales.. The gross profit percentage improved over the three-year period The gross profit percentage was 54% in 2016. The gross profit was $3.273 in 2016