In its 2016 annual report, Caterpillar Inc. reported the following (in millions) :
As a percentage of sales, did Caterpillar's gross profit increase or decrease during 2016?
A) Gross profit increased from 26.8% to 28.6%
B) Gross profit decreased from 28.6% to 26.5%
C) Gross profit increased from 71.4% to 73.2%
D) Gross profit decreased from 73.2% to 71.4%
E) There is not enough information to answer the question.
Correct Answer:
Verified
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