Problem

Assessing Financial ResultsMcKesson Corporation’s annual report for the year ended March 3...

Assessing Financial Results

McKesson Corporation’s annual report for the year ended March 31, 2009, includes income Assessing Financial statements for three years: ending on March 31, 2007, 2008, and 2009. Net income for these three Results years is as follows (all in millions): $913 (2007), $990 (2008), and $823 (2009). Further analysis of the same income statements reveals that revenues were the following amounts for these same years (all in millions): $92,977 (2007), $101,703 (2008), and $106,632 (2009). State each year’s net income as a percentage of revenues and comment briefly on the trend you see over the three- year period.

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