The following data (in millions) are taken from recent financial statements of Nike Inc.: ______________________Year 2...............Year 1

Question:

The following data (in millions) are taken from recent of Nike Inc.:
______________________Year 2...............Year 1
Net sales (revenues)...........$24,128..............$20,862
Net income.........................2,223.................2,133
a. Determine the amount of change (in millions) and percent of change in net income for Year 2. Round to one decimal place.
b. Determine the percentage relationship between net income and net sales (net income divided by net sales) for Year 2 and Year 1. Round to one decimal place.
c. What conclusions can you draw from your analysis?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...